New Delhi, Sept. 25 -- In a significant ruling offering relief to homebuyers, the Allahabad High Court has held that accepting possession of a flat after a prolonged delay does not, by itself, prevent a buyer from seeking interest for the period during which the developer failed to hand over the property.

The judgment is particularly relevant to buyers who accept possession after waiting for several years but subsequently seek compensation for the delay.

The Lucknow bench of the high court also ruled that the Real Estate (Regulation and Development) Act, 2016 (RERA) does not prescribe a specific limitation period for seeking interest on delayed possession. The court rejected an appeal filed by Antriksh Developers and Promoters in connec...