[ecis2016.org] The NCDRC has directed CHD Developers to refund Rs 3.4 crores to home buyers, along with compensation, for its failure to hand over possession of a housing project in Sector 106, Gurugram
The National Consumer Disputes Redressal Commission (NCDRC) has directed a real estate builder to refund, within four weeks, Rs 3.4 crores received from four home buyers, along with compensation, saying that they cannot be asked to wait indefinitely for the delivery of possession, in the absence of a committed date while the company enjoys their hard-earned money.
You are reading: NCDRC asks CHD Developers to refund Rs 3.4 crores to home buyers
Read also : Gulshan Botnia at Sector 144, Noida – Project Overview
The apex consumer commission, in four similar orders, directed CHD Developers to pay compensation at the rate of 12% on the principal amount paid by each home buyer, from the date of payment till the day the refund is given.
“The complainants cannot be asked to wait indefinitely for the delivery of possession, in the absence of a committed date and the act of the opposite party (developers) in relying on the force majeure clause while enjoying the hard earned money of the complainants for a long period, without any valid reason, is not only an act of deficiency of service but also amounts to unfair trade practice,” NCDRC president RK Agrawal and member M Shreesha said. The commission also directed the company to pay Rs 25,000 to each of the four home buyers as cost of litigation, within a month and clarified that since the interest is being awarded as compensation, therefore tax cannot be deducted from the amount.
Read also : Top 4 Myths About Commercial Real Estate Investing
The complainants had booked residential flats with CHD Developers in its housing project 106 Golf Avenue, which was to be constructed in Sector 106, Gurugram, Haryana. The company had promised the home buyers to deliver possession of their respective flats within 42 months of the execution of the agreement. The complainants alleged that possession was not offered to any one of them, despite having paid different amounts to the company.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
