Mohali, March 4 -- The Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe, New Chandigarh, to pay Rs.28.4 lakhinterest, calculated at the highest MCLR (marginal cost of fund-based lending rates) of 2% on the total amount deposited, andcontinue monthly compensation to a homebuyer for delay in handing over possession of a flat in "The Lake" project. It also directed the builder to issue a new possession offer within two months and adjust the awarded interest before seeking any remaining payment. The complainant, aMaharashtra resident, had booked the apartment in July 2018 for Rs.82.89 lakh. As per the buyer's agreement, possession was to be handed over by July 31, 2021. She paid Rs.54.53 lakh but did not receive the flat within the stipulated timeline. After the project remained incomplete beyond the deadline, she approached RERA in May 2024 seeking possession with interest for the delay and objecting to charges based onsuper area. Advocate M Shahnawaz Khan represented her before the authority. The developer argued that the tower was completed and an Occupation Certificate was obtained on November 26, 2025, and that a provisional offer of possession had been issued on January 21, 2025, to facilitate interior work. It maintained this was not formal legal possession. The builder further contended that the complainant failed to take possession despite repeated requests and was liable to pay holding charges under Section 19(1) of the Act. It also claimed the delay was due to regulatory requirements and alleged payment defaults by the complainant under the construction-linked plan. After examining the record, RERA held that the January 2025 offer was invalid as the completion certificate had not been obtained at that time. The authority also initiated separate proceedings against the developer under Section 63 of the Act for non-compliance with earlier directions. Advocate Khan said the order reinforces legal safeguards for homebuyers and ensures developers remain accountable for project delays and contractual obligations....