Haryana RERA has ordered Pyramid Infratech to pay 10.8% annual interest to four Pyramid Fusion Homes buyers for delayed possession, rejecting the developer's claim that signed conveyance deeds closed the matter.
If you've ever wondered whether signing your final conveyance deed quietly closes the door on claiming compensation for a delayed handover, Haryana RERA just answered that question directly, and not in the developer's favour. The Authority has directed Pyramid Infratech to pay delayed possession charges at 10.8% annual interest to four homebuyers, Subhasis Das, Ankit Kaushik, Gopal Chandra Mohanty and Anita Sharma, all owners in the developer's Pyramid Fusion Homes project in Sector 70A, Gurugram. The developer has 90 days from the order to pay up, with any outstanding dues from buyers adjusted against the interest owed.
Pyramid Infratech's central defence was that once the conveyance deeds were executed and accounts settled, buyers had effectively given up any further claim, including for delay. HRERA chairman Arun Kumar rejected that argument outright, citing Supreme Court precedent that a conveyance deed transfers title to a property but doesn't by itself extinguish a promoter's statutory liabilities around possession delays. That distinction matters beyond these four complaints: it's a reminder that finishing the paperwork on a flat you've already waited years for doesn't automatically forfeit your right to claim what you're owed for that wait.
The project's timeline is where the case gets genuinely technical, and worth understanding if you're tracking a delayed possession claim of your own. Pyramid Fusion Homes was registered under HRERA in February 2019, with building plans approved January 23, 2019 and environmental clearance following on August 30, 2019. Under the Haryana Affordable Housing Policy, 2013, developers get four years from whichever of those two dates comes later, putting the base deadline at August 30, 2023. HRERA then applied a standard six-month Covid-related extension, pushing the effective due date to February 2024 for delay-calculation purposes.
Against that, the Authority found the occupation certificate wasn't obtained until August 14, 2024, possession was offered a week later, and the unit was actually handed over on September 3, 2024, months past the adjusted deadline. The conveyance deed itself wasn't signed until June 24, 2025, nearly a year after handover.
Pyramid Infratech tried to argue that pollution-control orders, Covid-19 lockdowns, and labour shortages justified further relief beyond the standard extension already granted. HRERA wasn't persuaded, holding that these are recurring, foreseeable disruptions that any developer operating in NCR should have already factored into project planning rather than treated as unforeseeable delays. That's a meaningful signal if you're a buyer currently stuck in a delayed project where a developer is citing similar reasons, this order suggests regulators are increasingly unwilling to treat well-known, recurring disruptions as fresh grounds for extension.
The 10.8% figure itself follows a standard RERA formula rather than an arbitrary number, it's calculated as the State Bank of India's marginal cost of lending rate (8.8% at the time of the order) plus 2%. HRERA directed that this interest applies to the amounts the four buyers had actually paid, running from the original due date until either two months after a valid possession offer or the actual handover, whichever came first. Buyers won't be charged interest for the six-month Covid period between March and September 2020, in line with the standard exclusion applied across similar cases.
Worth being balanced here, since the order wasn't a complete win for the complainants. HRERA declined to grant relief on separate claims the buyers had raised for refunds of various additional charges, specifically because the conveyance deeds had already been executed and accounts settled on those particular items. So the conveyance deed argument failed for delay compensation but succeeded for other settled charges, a distinction that matters if you're evaluating your own claim and assuming a signed deed either protects you completely or offers you nothing.
This isn't the developer's first run-in with a regulator over buyer obligations. Pyramid Infratech was previously ordered by the National Anti-Profiteering Authority in 2018 to refund roughly ₹8.22 crore to over 2,400 flat buyers across its Urban Homes projects in Sector 70A and Sector 86, for failing to pass on GST input tax credit benefits, an order the company challenged and got stayed at the Delhi High Court.
Separately, a GST Appellate Tribunal ruled in the company's favour on a different project in January 2026. Taken together with this week's HRERA order, it's a pattern worth being aware of if you're evaluating any of the developer's other projects, not as a verdict on the company overall, but as a reason to check a project's specific compliance and complaint history rather than assume it based on brand recognition alone.
If you're sitting on a delayed possession in NCR and wondering whether it's worth pursuing, this order is a useful data point: HRERA is applying the SBI-plus-2% formula consistently, rejecting blanket "force majeure" arguments around known disruptions, and explicitly ruling that a signed conveyance deed doesn't waive your delay claim.
If you're sitting on a delayed possession in NCR and wondering whether it's worth pursuing, this order is a useful data point: HRERA is applying the SBI-plus-2% formula consistently, rejecting blanket "force majeure" arguments around known disruptions, and explicitly ruling that a signed conveyance deed doesn't waive your delay claim. Check a developer’s HRERA registration and complaint history before buying; due diligence can reveal delays before they become tribunal disputes.
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