Yes, there is some relief on refunds and penalties for builders under RERA.
Refunds
RERA requires builders to refund buyers the full amount they have paid, along with interest, if they fail to deliver the project on time or if they abandon the project altogether. However, there are some exceptions to this rule.
For example, a builder may not be required to refund the buyer if the delay in delivery is due to a force majeure event, such as a natural disaster or war. Additionally, a builder may not be required to refund the buyer if the delay is due to a change in the law or government regulations.
Penalties
RERA also imposes penalties on builders for failing to comply with their obligations under the law. These penalties can include fines, imprisonment, and the cancellation of the builder’s registration. However, there are some provisions under RERA that allow builders to seek relief from penalties.
For example, a builder may be able to avoid a penalty if they can show that the failure to comply with their obligations was due to a force majeure event or a change in the law or government regulations. Additionally, a builder may be able to get a penalty waived or reduced if they can show that they have taken steps to rectify the situation and that they are committed to completing the project.
How to get relief
If you are a builder who believes that you are entitled to relief from a refund or penalty, you can file an application with the RERA authority. The RERA authority will consider your application and issue an order based on the facts of the case.
It is important to note that the RERA authority has a very strict view of builders who fail to comply with their obligations under the law. Therefore, it is important for builders to seek legal advice before filing an application for relief.