The Godrej Lakeside Orchard possession date is set for September 30, 2030, which is six years after the project's initiation. On the specified possession date, buyers can officially take ownership of their apartments. Godrej Group will hand over the keys and all legal documents to the buyers.

As the project is approved by RERA, it will be delivered on time. Godrej Group is one of the reputed real estate builders known for the best quality of work and for delivering their projects on time.

The possession date is the date on which the buyers of a housing project can take ownership of their properties. On this day, buyers can own their homes and have full access to them.

Details about the Possession Date

What if Godrej Lakeside Orchard's Possession Date is Delayed?

RERA ensures that builders are accountable for delays in property possession. The Karnataka Real Estate Regulatory Authority issued an order on June 23 stating that buyers who accept ownership before the issue of the occupancy certificate will not be given any compensation in case of any delay in the project completion. If builders fail to give property on time, they must pay penalties.

The penalty under RERA for late possession includes:

• All the buyers of the property can claim the compensation amount from the builder till they get their property for possession every month.
• Buyers can cancel their agreement, and they can seek a refund. The builder must return the full amount paid by the buyer with the interest amount.
• If the builder fails to provide the compensation amount, they may have a fine of up to 10% of the project cost. They will also have imprisonment for up to 3 years.

Buyers can plan accordingly, and if they are living in rent, they can vacate based on that as the possession dates are given in advance. They can also count down the days of acquiring their dream home in advance.

As buyers can start living their lives in their dream homes, many people are eagerly waiting for the possession date. As Godrej Group is known for meeting the desires of buyers, they will finish this project on time and hand over the property on the exact possession date.