India, May 13 -- The Karnataka RERA Tribunal (KREAT) has directed Bengaluru-based realtor Sterling Developers to hand over a luxury villa to a 75-year-old buyer after a 12-year delay. Setting aside an earlier Karnataka RERA order, the Tribunal directed Sterling Urban Developers Pvt Ltd to provide physical possession of the villa and pay interest at 9% per annum for each month of delay for five years.

"The order dated May 2023, passed by the Karnataka Real Estate Regulatory Authority, is hereby set aside. Sterling Urban Developers Private Limited is directed to hand over the physical possession of the Villa bearing No C-96 to the allottee within one month," the order said.

The Tribunal further ordered the developer to pay delay period in...