UP REAT: Promoters Cannot Use Contractual Terms to Circumvent Statutory Interest for Delay Under RERA

The Uttar Pradesh Real Estate Appellate Tribunal (UP REAT) has held that once a project is registered under the Real Estate (Regulation and Development) Act, 2016 (RERA), the promoter is statutorily obligated to pay interest for delays at the prescribed rate, overriding any conflicting contractual agreements. The Bench, comprising Justice Suneet Kumar (Chairman), Sanjai Khare

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