Punjab Investment Summit merely a PR exercise, Majithia questions government over BMW plant claim Majithia demands CBI probe into alleged fake encounter of Ranjit Singh Chandigarh/Sri Hargobindpur 14 March ( Ranjeet Singh Dhaliwal ) : Senior Bikram Singh Majithia, leader of the Shiromani Akali Dal and former minister, on Friday took a sharp dig at the Punjab Investment Summit, calling it nothing more than a public relations exercise. He said this was evident from the fact that none of the industrialists who attended the summit announced any major investment in the state. Questioning Chief Minister Bhagwant Mann’s claim about setting up a BMW plant in Punjab, Majithia asked where exactly the plant was. Referring to industrialist Lakshmi Mittal, Majithia said Mittal spoke about the refinery named after Guru Gobind Singh, but every child in Punjab knows who actually brought that refinery to the state. He said the project was brought to Punjab in 1999 during the tenure of former Chief Mini...
RERA Punjab Awards Rs 25.51 Lakh Interest to Homebuyers for Delay in Possession
Chandigarh 14 March ( Ranjeet Singh Dhaliwal ) : In a significant order protecting the rights of homebuyers, the Punjab Real Estate Regulatory Authority has directed SRG Developers & Promoters to pay ₹25,51,500/- as interest for delayed possession to the allottees in the project Marbella Grand located in IT City, Mohali. The order was passed by the bench of Rakesh Kumar Goyal in Complaint No. 0320 of 2025 titled Nitin Agarwal & Another vs. SRG Developers & Promoters. The complainants were represented by Advocate David Sardana of Sardana Law Office, along with co-counsels.
As per the order, the complainants had booked a 4+1 BHK residential apartment in the project and had paid almost the entire sale consideration. Despite this, the developer failed to hand over possession within the agreed timeline under the Builder Buyer Agreement. After examining the record and submissions of the parties, the Authority held that the delay in offering possession entitled the allottees to statutory interest under the Real Estate (Regulation and Development) Act, 2016.
The Authority calculated the delayed interest on the amount deposited by the complainants and determined that ₹25,51,500/- was payable for the delay period calculated up to 31 December 2025. The Authority also directed the developer to hand over valid physical possession of the unit to the allottees and make payment of the interest within the stipulated period.
Commenting on the order, Advocate David Sardana, Sardana Law Office, stated that the decision reinforces the statutory rights of homebuyers and sends a clear message that developers cannot indefinitely delay possession without facing financial consequences. This order is another important example of the effective implementation of RERA provisions in Punjab and highlights the growing confidence of homebuyers in approaching the Authority for timely redressal of their grievances.
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