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 allottee and subsequent transferees delayed payments and that Kaur knew about the revised possession timeline when she purchased the allotment rights in March 2025. It also told RERA that it received the occupation certificate on January 20, 2026, and offered possession two days later. The developer further claimed that Kaur owed Rs.18 lakh towards the sale consideration when it offered possession and had not completed the possession formalities. RERA, however, rejected the developer's contention that the buyer's payment caused the delay. The authority noted that the Rs.18 lakh amount was scheduled to be paid at the time of possession and that Kaur paid it on February 19, 2026, after receiving the possession-cum-demand notice dated January 22.The authority also noted that the developer received the completion certificate after the agreed possession date, and physical possession had not been handed over to Kaur despite payment. RERA said the developer had delayed handing over possession and held that Kaur was entitled to interest under Section 18(1) of the Real Estate (Regulation and Development) Act, 2016. The authority directed Jubilee Joy Homes to pay interest at 11% per annum on Rs.44 lakh from July 18, 2025, until the date of physical possession of the unit. It directed the developer to comply with the order within 90 days and warned that failure to comply with or contravention of the authority's directions could attract a penalty under Section 63 of the RERA Act....