Bangaluru, 16.12.2025 : The Karnataka Real Estate Regulatory Authority (Karnataka Real Estate Regulatory Authority) has directed Ozone Infra Developers Pvt. Ltd. to pay ₹19.87 lakh as interest to two homebuyers for a delay of over four years in handing over possession of an apartment in its Bengaluru project, Ozone Urbana Prime.
The authority also ordered the developer to hand over possession of the apartment at the earliest after obtaining the Occupancy Certificate and to execute the registered sale deed in favour of the buyers.
The order was passed by Authority Member G.R. Reddy, who proceeded ex parte after the developer repeatedly failed to file objections despite being granted multiple opportunities.
The complaint was filed by two homebuyers who booked an apartment in the Ozone Urbana Prime project in Bengaluru. An agreement for sale was executed on September 3, 2018, under which the developer committed to complete construction and hand over possession by June 30, 2021.
Records showed that the buyers had paid approximately ₹44.41 lakh as advance sale consideration. However, even after the agreed possession date lapsed, the apartment was neither completed nor offered for possession. The buyers stated that the delay exceeded four years and that the developer had not communicated any tentative timeline for completion.
During the hearings, the complainants appeared through counsel and filed a detailed memo calculating the interest payable for the delay period, supported by payment receipts and the agreement for sale. Despite repeated adjournments sought by the respondents, no statement of objections was filed. In view of this conduct, the authority placed the developer ex parte and decided the complaint based on the material on record.
After examining the documents, K-RERA noted that the delay in handing over possession was undisputed. It observed that the complainants had paid substantial consideration and that the developer had failed to adhere to the agreed timeline or provide any probable date of delivery.
Invoking Section 18 of the Real Estate (Regulation and Development) Act, 2016, the authority held that the homebuyers were statutorily entitled to interest for the period of delay. It directed the developer to pay interest at the rate of SBI MCLR plus 2 percent from June 30, 2021 until the date of handing over possession along with the Occupancy Certificate.
Based on the complainants’ calculation, the interest payable up to the date of the order amounted to ₹19,87,871, which the developer was directed to pay within 60 days. The authority clarified that interest would continue to accrue on a monthly basis until possession is actually handed over.
In addition, Ozone Infra Developers was directed to deliver the apartment with all promised amenities and to execute the registered sale deed in favour of the buyers at the earliest. Liberty was also granted to the complainants to initiate further legal proceedings in case of non-compliance.
Cause Title: Baishaki Das & Another vs. M/s Ozone Infra Developers & Others
Case No: Complaint No. CMP/495/2025
Coram: Member G.R. Reddy
