RERA Delay Interest Calculator

Where possession of a flat is delayed, the Real Estate (Regulation and Development) Act entitles an allottee to interest on the amounts already paid, either for the period of the delay if they continue with the project, or with a refund if they withdraw.

The rate is prescribed by the rules made under the Act and is commonly linked to a bank lending rate plus a margin. Because the rules are made by each state, both the rate and the way it is expressed differ between states, and the rate changes as the underlying lending rate moves.

This calculator applies simple interest on the amount paid for the days of delay, at the rate you enter. Enter the rate from the rules of the state where the project is registered.

The date from which the delay runs is usually the date for possession in the agreement, and it is often disputed. Keep the agreement, the payment receipts and any written extension, because the computation stands or falls on those dates.