Haryana RERA Orders Pyramid Infratech to Pay 10.8% Interest to Buyers for Possession Delay

Homebuyers of a Pyramid Infratech project in Gurugram have secured a favourable order from the Haryana Real Estate Regulatory Authority (HARERA), which has directed the developer to pay 10.8% annual interest to affected buyers for delays in handing over possession of their flats. The order adds to a growing body of HARERA rulings holding developers financially accountable for possession delays — and offers a useful case study in how RERA's delayed-possession compensation framework actually works.

What HARERA Has Directed

According to the order, Pyramid Infratech has been directed to pay interest at 10.8% per annum to the affected homebuyers, calculated for the period of delay between the developer's committed possession date and the actual (or expected) handover. This rate is broadly consistent with how RERA authorities across states typically calculate delayed-possession interest — usually pegged to the State Bank of India's Marginal Cost of Lending Rate (MCLR) plus a fixed percentage (commonly 2%), as prescribed under the RERA rules.

About Pyramid Infratech

Pyramid Infratech Private Limited is a Gurugram-based real estate developer, incorporated in November 2008 by co-founders Brahm Dutt and Dinesh Kumar. The company has primarily positioned itself in the affordable housing segment, developing residential projects across Gurugram, including projects like Urban Homes in Sector 70A and Sector 86.

It's worth noting that this isn't the company's first regulatory encounter. In 2018, the National Anti-Profiteering Authority (NAA) had directed Pyramid Infratech to refund ₹8.22 crore to 2,476 flat buyers of its Urban Homes projects, for failing to pass on GST input tax credit benefits — an order the company subsequently challenged before the Delhi High Court. Separately, in a different matter concerning its Urban 67A project, the GST Appellate Tribunal ruled in the company's favour in January 2026, finding no profiteering violation in that specific case.

How RERA's Delayed Possession Interest Works

For homebuyers unfamiliar with how these orders function, it's worth understanding the basic framework RERA authorities use across India:

• Under the Real Estate (Regulation and Development) Act, 2016, if a developer fails to hand over possession by the date committed in the Builder-Buyer Agreement, the buyer is entitled to claim interest for the entire period of delay — not just a flat penalty
• The interest rate is typically set using a formula tied to the SBI MCLR + 2%, which authorities periodically update and apply uniformly to ensure consistency across cases
• Buyers have the option to either continue with the project and claim interest for the delay period, or in cases of prolonged non-delivery, seek a full refund with interest and withdraw from the project altogether
• These orders are legally enforceable, and non-compliance can lead to further recovery proceedings against the developer

Rulings like this one against Pyramid Infratech reflect HARERA's continued, active use of this mechanism to hold developers accountable — a trend that has become increasingly common across Gurugram and the wider NCR real estate market in recent years, as regulatory bodies mature and homebuyer complaint volumes remain high.

Why This Matters for Homebuyers

Cases like this are a useful reminder for anyone currently facing a delayed possession situation, or evaluating a resale/under-construction property:

• Delayed possession isn't just an inconvenience — it's a compensable right. Buyers are legally entitled to interest for every day of delay beyond the committed handover date, and RERA authorities have consistently enforced this across the industry
• A developer's regulatory history matters. As seen with Pyramid Infratech's separate NAA and GST-related proceedings, reviewing a developer's full track record — not just possession delays, but pricing transparency and regulatory compliance — gives a fuller picture of the risk involved in a purchase
• RERA complaints are a real, accessible remedy. Homebuyers facing possession delays can file complaints directly with their state's RERA authority (HARERA for Haryana) rather than relying solely on developer assurances or informal negotiation

A Note on This Report

This piece is based on limited publicly available detail regarding the specific case, project name, and exact possession timeline involved in this particular HARERA order against Pyramid Infratech. We've focused on what's verifiable — the interest rate directed, the standard RERA framework it fits within, and Pyramid Infratech's broader regulatory history — rather than speculating on case-specific details we couldn't independently confirm. We'll update this piece with further specifics as more information becomes available.

Final Thoughts

HARERA's order directing Pyramid Infratech to pay 10.8% annual interest to affected homebuyers reinforces a pattern that's become increasingly familiar across Gurugram's real estate market — regulators actively using RERA's compensation framework to hold developers accountable for possession delays. For homebuyers currently dealing with a delayed project, or considering a new purchase, this case is a timely reminder to understand your rights under RERA and to factor a developer's regulatory track record into any buying decision.

If you're evaluating a property purchase and want help checking a developer's RERA compliance history before you commit, Orange Advisors can guide you through that due diligence.

Frequently Asked Questions

Q1. What has HARERA directed Pyramid Infratech to do? HARERA has directed Pyramid Infratech to pay 10.8% annual interest to affected homebuyers for delays in handing over possession of their flats.

Q2. How is the delayed possession interest rate typically calculated under RERA? Most state RERA authorities, including HARERA, calculate delayed possession interest using a formula based on SBI's Marginal Cost of Lending Rate (MCLR) plus a fixed percentage, commonly around 2%.

Q3. Has Pyramid Infratech faced other regulatory action before? Yes, in 2018 the National Anti-Profiteering Authority directed the company to refund ₹8.22 crore to homebuyers of its Urban Homes projects for not passing on GST input tax credit benefits, a matter the company challenged in the Delhi High Court.

Q4. Can homebuyers choose a refund instead of accepting delayed possession interest? Yes, under RERA, buyers can choose to either continue with the project and claim interest for the delay, or seek a full refund with interest and withdraw from the project in cases of significant delay.

Q5. How can homebuyers file a complaint for delayed possession in Haryana? Homebuyers can file a formal complaint with the Haryana Real Estate Regulatory Authority (HARERA), which has jurisdiction over RERA-registered projects in the state.