If a builder fails to give possession by the date in your agreement, Section 18 of the Real Estate (Regulation and Development) Act, 2016 lets you either withdraw and get a refund with interest, or stay in the project and get interest for every month of delay until possession. In Maharashtra, the rate is set by Rule 18 of the MahaRERA Rules, 2017: SBI’s highest MCLR plus 2%. Use this tool to estimate the interest.
MahaRERA delay interest calculator
The default rate uses SBI’s highest MCLR of 8.95% (effective 15 October 2026) plus 2%. You can change it.
An estimate using simple interest. MahaRERA decides the actual amount on the facts of your case. Nothing you enter is saved or sent anywhere.
How the interest works
| Your choice | Interest runs |
|---|---|
| Withdraw from the project | On each payment, from the date it was paid until the date of refund |
| Stay in the project | On the amount paid, for every month of delay from the promised possession date until possession is handed over |
The rate
Rule 18 of the Maharashtra Real Estate (Regulation and Development) (Recovery of Interest, Penalty, Compensation, Fine Payable, Forms of Complaints and Appeal, etc.) Rules, 2017 fixes the rate at the State Bank of India’s highest Marginal Cost of Lending Rate (MCLR) plus 2%. SBI revises its MCLR from time to time. From 15 October 2026, its highest MCLR (the three-year rate) is 8.95%, giving 10.95%.
MahaRERA may also award compensation, which is decided separately by the adjudicating officer.
These tools give general information to help you prepare. They are not legal advice, and nothing you enter is stored or sent anywhere.