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A delay of about seven months in handing over a commercial unit has led to an interest liability for Ocus Skyscrapers Realty.
The Haryana Real Estate Regulatory Authority (HRERA) has directed the developer to pay 10.8% annual interest to a buyer for delayed possession in its Ocus 24K project in Sector 68, Gurugram.
The order was passed by HRERA chairman Arun Kumar on July 17, 2026. Along with the interest payment, the authority has asked the developer to execute the conveyance deed within three months and has said that charges outside the original buyer agreement cannot be imposed.
Possession was due in December 2018
The dispute goes back to a buyer agreement signed on December 16, 2013. Before booking an under-construction property, buyers should also verify the project’s RERA registration, agreement terms and promised possession timeline.
Under the agreement, possession was to be given within 60 months. That put the contractual deadline at December 16, 2018.
The occupation certificate for Ocus 24K was eventually issued on July 17, 2019. The possession offer followed the next day, on July 18.
That left the buyer waiting for roughly seven months beyond the agreed possession date.
The buyer, Archana Dubey, approached HRERA seeking relief over the delay. She had two commercial units with the developer, including a 419 sq ft unit in Ocus 24K, Sector 68.
HRERA fixes interest at 10.8%
On the delayed-possession issue, the authority found the promoter responsible for failing to meet the contractual deadline.
HRERA applied Section 18(1) of the Real Estate (Regulation and Development) Act along with Rule 15 of the Haryana RERA Rules.
The resulting interest rate was 10.8% per annum. The calculation applies to the amount paid by the buyer and runs from December 16, 2018, to September 18, 2019.
The authority also considered the two-month period following the possession offer while calculating the liability.
The developer has been given 90 days to clear the arrears.
For buyers, the important part of the order is not simply the 10.8% figure. It is the fact that the contractual possession date became central to deciding the compensation.
Buyer raised other allegations too
The complaint was not limited to delayed possession.
Dubey had alleged that the developer had wrongly linked or conflated her units in Ocus Medley in Sector 99 and Ocus 24K in Sector 68. She also raised allegations concerning the allotment process and the statutory approvals connected with the project.
HRERA did not accept these allegations.
The authority noted that the two units belonged to separate projects with separate registrations. Based on the documents before it, the claim of a fraudulent unit swap was not established.
The authority also declined to examine allegations relating to the alleged fraudulent procurement of occupation and completion certificates and claims that the project site remained incomplete.
Those matters, HRERA said, fell outside its jurisdiction. The buyer was instead directed towards the appropriate authorities or a competent civil court for such grievances.
What happens to the conveyance deed?
HRERA has also directed Ocus Skyscrapers Realty to execute the conveyance deed within three months. The conveyance deed is one of the important property documents that buyers should understand before completing a property transaction.
The developer has further been restrained from levying charges that were not part of the original buyer agreement.
That portion of the order matters because possession is not necessarily the end of a property transaction. Documentation transferring the buyer's rights remains an important step, particularly for commercial property owners.
Why this order matters to property buyers
Delayed possession disputes often stretch over years, and the first document that comes under scrutiny is usually the buyer agreement.
The Ocus 24K case is a useful reminder of why buyers should keep a clear record of:
- The date on which the buyer agreement was signed
- The contractual possession deadline
- Payment receipts and statements
- Possession letters
- Occupation and completion certificates
- Emails and other communication with the developer
- Any additional charges demanded after possession
These records can become important if a dispute eventually reaches the regulator.
The project itself is registered with Haryana RERA as Ocus 24K, located at Village Badshahpur, Sector 68, Gurugram, with Ocus Skyscrapers Realty Limited listed as the promoter.
10.8% is not an automatic payout in every case
One point is worth keeping clear.
The order does not mean every delayed property buyer in Haryana will automatically receive 10.8% interest in exactly the same manner.
The calculation depends on the applicable RERA provisions, the facts of the case, the contractual terms and the relevant period of delay.
In this case, HRERA applied the prescribed rate while examining the developer's failure to meet the possession date mentioned in the agreement.
That distinction is important for buyers considering a RERA complaint. A delay claim is ultimately decided on the documents and circumstances of the particular case.
A reminder for Gurugram buyers
Gurugram has seen a steady expansion of commercial and residential development, but construction timelines remain one of the biggest concerns for buyers.
The Ocus 24K ruling adds another example of HRERA examining delayed possession through the terms agreed between the buyer and developer.
For someone buying an under-construction property, checking the promised possession date before signing is therefore not a minor formality. It can become one of the most important clauses in the agreement.
In the Ocus case, that date December 16, 2018 became the starting point for the interest calculation.
That is perhaps the simplest takeaway from the order: buyers should know exactly what their agreement promises, and keep the paperwork to prove it. That is also why property title verification due diligence should cover the title, approvals, RERA registration and other regulatory records before purchase.
Ans 1. HRERA found that possession of the Ocus 24K unit was offered after the possession date agreed in the buyer’s agreement. The authority therefore awarded interest for the delayed period under the applicable RERA provisions.
Ans 2. The buyer agreement required possession by December 16, 2018. The occupation certificate was issued on July 17, 2019, followed by the possession offer on July 18, making the delay roughly seven months.
Ans 3. Haryana RERA directed Ocus Skyscrapers Realty to pay 10.8% annual interest on the amount paid by the buyer for the period recognised by the authority.
Ans 4. No. The applicable interest and period depend on the RERA provisions, state rules, agreement terms and facts of the individual case. Section 18 provides remedies where a promoter fails to give possession according to the agreement.
Ans 5. Apart from clearing the interest arrears within 90 days, the developer was directed to execute the conveyance deed within three months and was restricted from imposing charges that were not part of the original buyer agreement.
Ans 6. No. The authority rejected or declined to adjudicate several wider allegations, including claims concerning fraud in the allotment process and statutory clearances. Some issues were considered outside the authority's jurisdiction.
Ans 7. The buyer should keep the buyer agreement, payment records, promised possession date, correspondence with the developer and possession-related documents. These records can become important when seeking relief under RERA.