How is RERA penalty calculated for delay in possession?

Under RERA, the builder must pay interest at the SBI MCLR rate on the amount paid by the buyer for every month of delay in possession.

What is the current SBI MCLR rate for RERA compensation?

The SBI 1-year MCLR rate is used as the benchmark for calculating RERA delay compensation. Check SBI's official website for the current rate.

Can I claim RERA compensation if my builder delayed possession?

Yes. If your builder has delayed possession beyond the date mentioned in your sale agreement, you are entitled to compensation under Section 18 of the RERA Act.

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