‘MaHaRERA confirms interest payment for delay is absolute’

I have booked a flat in Mulund, for which the agreement for sale was executed on January 15, 2023.

- Adv Shirish V Deshpande

Q. The total cost is Rs1.65 crore. As per the agreement, the possession date is April 30, 2025, with a six-month grace period. Looking at the building’s status, | don’t think the builder can give possession for another year. My queries are: (a) What is the applicable interest rate in case of delay? (b) When does this interest become payable? (c) Is payment automatic, or does the buyer need to demand it? (d) Can the builder deny interest citing reasons beyond his control?