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Kerala RERA awards buyers 16.65% interest for delayed flat handover

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Kerala Real Estate Regulatory Authority ordered a builder to pay homebuyers interest. The authority mandated 16.65% simple interest for delayed flat possession. This order mandates the builder to complete amenities and execute sale deeds. The builder cannot use demonetisation or floods to justify the significant delay. The project remains unfinished, causing considerable distress to the overseas buyers.

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