Mohali, Nov. 1 -- The Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe Chandigarh Extension Developers Pvt Ltd to pay Rs.58 lakh as interest to a New Chandigarh couple for delaying possession of their four-bedroom apartment in its The Lake project. The authority also ordered the company to adjust the amount against the buyers' outstanding dues and hand over the apartment after completing it in accordance with the agreement. RERA chairman Rakesh Kumar Goyal passed the order on a complaint filed by Rakesh Misri and his wife, Anju Rakesh Misri, on August 1, 2025 . The couple booked a 2,760-sq-ft apartment in Tower Emerald-B, Mullanpur, in April 2019. Under the agreement signed on July 15, 2019, Omaxe had to deliver possession by July 31, 2021. According to the counsel Adv Mohd Sartaaj Khan, complainant paid Rs.1.2 crore of the total sale price of Rs.1.3 crore. They approached RERA seeking interest for delay, a valid offer of possession after firm obtained the occupancy certificate, and relief over charges based on the apartment's super area. Omaxe told the authority that the buyers had delayed instalments and that the company was entitled to a 113-day extension under the agreement. It also sought a nine-month extension citing the Covid-19 pandemic and argued that it could withdraw a discount of Rs.11 lakh offered under the payment plan. The authority rejected the company's arguments on the buyers' alleged payment defaults, observing that Omaxe had not established the delays through the required notices or records. It also rejected the nine-month Covid extension, allowing only the six months granted under RERA's October 2020 circular. This revised the possession deadline to January 31, 2022. GMADA granted the occupancy certificate for Tower Emerald-B on May 25, 2026. Omaxe issued an offer of possession on July 15, 2026, demanding another Rs.15 lakh. The authority noted that the offer letter said finishing work would be taken up after the company received the balance amount. RERA calculated interest at 10.95% on the amount already paid by the couple for the period from February 1, 2022, to June 30, 2026, and fixed the amount at Rs.58 lakh. It directed Omaxe to pay the amount within 90 days of receiving the order. The company must provide an interest calculation within 15 days and issue a revised statement of account within 30 days, adjusting the interest and excluding the disputed discount and any unquantified delayed-payment interest. The authority directed it to adjust the interest against the buyers' dues and pay any remaining amount to them. Omaxe must hand over the completed apartment within 60 days of receiving the net amount and execute the conveyance deed. The authority also directed that no maintenance charges be levied for the period before physical possession. If Omaxe fails to pay the balance interest after adjustment, RERA can recover it as arrears of land revenue....