Mohali, Sept. 28 -- The Punjab Real Estate Regulatory Authority (RERA) has directed Jubilee Joy Homes LLP to pay 11% annual interest to a homebuyer for delaying possession of an independent floor in its Jubilee Coral Terraces project in Sector 120, Mohali.

RERA passed the order on a complaint filed by Ravinder Jit Kaur, who sought interest from July 18, 2025, the agreed possession date, until she receives physical possession of the unit.Kaur purchased an independent floor on Plot 128 in the project for Rs.59 lakh, including IFMS and other charges. The sale agreement, executed on December 19, 2022, fixed July 18, 2025, as the possession date. She had paid Rs.44 lakh when she filed the complaint.

The developer argued that the original all...