A Chennai couple who booked a flat in 2019 and paid Rs 46 lakh allegedly waited years for possession before turning to legal forums, according to a post shared on X by wealth manager Kalyan Kumar Biswal.Biswal said the couple was promised possession in 2022, but the flat was not delivered that year or in the following two years. The couple continued paying home-loan EMIs while also paying rent for their existing accommodation, leaving them with two housing-related expenses.According to his account, the matter eventually led to a 2025 ruling ordering the builder to refund the Rs 46 lakh along with 19% interest from 2019, taking the total amount to Rs 1.06 crore.Also Read: Man takes a DNA test, finds out he isn't the child's father; files for divorce but wife refuses official test; Supreme Court allows the paternity test— KalyanKBiswal (@KalyanKBiswal) Couple continues paying EMI and rentThe couple booked the Chennai flat in 2019 and paid Rs 46 lakh towards the property, Biswal said.The builder had committed to handing over possession in 2022. However, when 2022 arrived, the flat was still not delivered. The delay continued through 2023 and 2024.During this period, the couple allegedly continued servicing their home loan while also paying rent for the house they were living in.Biswal said they approached RERA in 2025, but the builder continued seeking extensions. The couple subsequently moved to the consumer court.Refund rises to Rs 1.06 crore with interestAccording to Biswal, the 2025 ruling directed the builder to return the Rs 46 lakh paid by the couple.The order also included 19% interest calculated from 2019. Biswal said this took the amount from Rs 46 lakh to approximately Rs 1.06 crore, with around Rs 60 lakh representing interest.He said the delay had stretched to six years and highlighted the financial consequences for homebuyers waiting for possession.Biswal also said buyers facing delayed possession have two legal avenues, RERA or the consumer court, and that both can order interest on money paid to a builder.He added that many homebuyers are unaware that they may be able to claim interest.What happens if a builder goes bankrupt?Responding to a question about what happens if a developer becomes insolvent, Biswal said buyers become financial creditors under the Insolvency and Bankruptcy Code and can submit claims to the Resolution Professional.He said a RERA order can help establish the buyer's claim, but actual recovery depends on the assets remaining after the resolution or liquidation process and may be partial and slow.Also Read: ‘I bought 2 houses at 24, but my kids might never buy one’: Founder says people need to move beyond 9 to 5 for building wealth that can beat inflationHomebuyers share delayed-possession experiencesThe post also drew responses from other users discussing delayed projects and the interest applicable in such cases.One commenter said interest awarded by RERA is usually linked to the rate a builder would have charged the buyer for delayed instalment payments under the agreement for sale, or MCLR plus 2%, whichever is higher.Another user shared a personal experience involving a flat booked in Bhiwadi, Rajasthan, at Avalon in 2013. The commenter said possession was promised within four years and that 95% of the payment had been made by 2017, but the project remained delayed even after nine years.The user said some buyers had won cases seeking refunds but had still not received the money, attributing the situation to corruption and arguing that legal proceedings had left buyers continuing to suffer.