Mohali, July 12 -- The Punjab Real Estate Regulatory Authority (RERA) has directed Innovative Housing & Infrastructure Pvt Ltd and four other respondents to pay Rs.29.76 lakh as interest to a Mohali woman for delaying possession of a commercial bay shop in its New Chandigarh project. The authority also ordered the developer to offer possession after obtaining the completion certificate. The order came on a complaint filed by Suman Lata, a resident of Tira village in Mohali, under Section 31 of the Real Estate (Regulation and Development) Act, 2016. According to the complaint, Suman Lata purchased a shop in the developer's "PCL Gateway" project for Rs.81 lakh on November 4, 2020. The allotment letter stipulated that possession would be handed over by November 30, 2021, with a grace period of three months. She approached RERA after the developer failed to deliver possession despite receiving the full payment. The complainant sought possession of the bay shop along with delay compensation as provided under the allotment letter. In its reply, the developer admitted that possession had not been offered within the stipulated period and attributed the matter to institutional delays on the part of the Greater Mohali Area Development Authority (GMADA). The company also sought dismissal of the complaint, arguing that the allotment stemmed from a land pooling agreement executed by the complainant's husband. Rejecting the contention, RERA held that the complainant herself was not a party to the land pooling agreement and that the dispute related to the allotment of a commercial unit purchased by her after paying the entire sale consideration. The authority observed that there was an admitted delay in handing over possession and held that the developer had violated Section 18(1) of the RERA Act, which entitles an allottee to interest for every month of delay if possession is not delivered within the agreed timeline. RERA directed the respondents to issue a written offer of possession after obtaining the completion certificate from the competent authority. It further ordered them to pay interest at 10.80% per annum on Rs.81 lakh from March 1, 2022 after expiry of the three-month grace period until July 15, 2026, amounting to Rs.29.76 lakh. The authority also directed the developer to continue paying interest at the same rate until legal possession is handed over. The amount must be paid within 90 days, failing which it can be recovered as arrears of land revenue. RERA also noted that the project's registration had expired and the promoter had neither obtained an occupancy or completion certificate nor sought an extension of registration. It directed the promoter to complete the required formalities without further delay....