Central Govt to Make Builders Pay 11.2% Interest For Delayed Projects!
Going forward, for any delay in handing over possession of the real estate property to the buyer, the real estate firm will have to pay 11.2 per cent interest on the principle amount paid by the property buyer.
The Real estate draft rules have also discussed various issues on the real estate delayed projects but the highlight of the draft would have to be the payment of 11.2% interest.
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