If possession of a flat has been taken by a home buyer before May 2017, then ompensation for delayed possession cannot be sought. If possession of a flat has been taken by a home buyer before May 2017, when the Real Estate Regulatory act,came into force,then he cannot seek compensation for delayed possession by the developer. The developer failed to deliver the possession as agreed and therefore, because of delayed possession he claims interest/compensation on his investment. According to the developer, Nalawde has been possessing the flat from November 2015 and the fit out possession was given in March 2015 itself. Therefore, the cause of action to claim compensation for the delayed possession did not survive on May 1, 2017 when the Act came into force.

Source: dna November 23, 2017 12:15 UTC