Mohali, April 28 -- aarya.kumari@hindustantimes.com

Ruling that a homebuyer's right to timely possession cannot be denied, the Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe Chandigarh Extension Developers Private Limited to hand over a residential unit in its "The Lake" project in New Chandigarh and pay interest on Rs.88.83 lakh for a delay of over five years.

The authority held the promoter failed to deliver possession within the agreed timeline and found the complainants entitled to interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016.

The complainant represented by advocate Sartaj Khan, had booked a flat in October 2015 for Rs.88.83 lakh. As per the agreement, possession was to be h...