NE NEWS SERVICE
CHENNAI, JAN 5
A builder was directed to refund a sum of Rs. 40.27-lakh paid by a home buyer along with the compensation of Rs. 2 lakhs for failing to handover the flat within the stipulated timeframe as agreed mutually.
The Tamil Nadu Real Estate Regulatory Authority (TNRERA), Chennai, has directed Emaar MGF Land Limited to refund Rs. 40.27 lakh paid by a home buyer along with interest and also pay compensation of Rs. 2 lakh for failing to deliver a flat.
In his complaint, Adnan said that he had booked a flat at the developer’s ‘The Avenues AT The Esplanade’ project in Tondiarpet for about Rs. 41.19 lakh.
The buyer and developer entered into a construction and sales agreement on March 25, 2013 and the buyer paid Rs. 40.27 lakh, according to the complaint.
The developer undertook to deliver the flat within 24 months with a grace period of 6 months, but till date the construction had not been completed, it added.
TNRERA noted that Section 18 of the RERA Act gives a homebuyer the right to demand the amount paid by him towards the purchase of the flat along with interest and compensation on the ground of failure on the part of the promoter to hand over the flat as per the terms of the agreement. It said the refund should be made along with an interest of 10.15% per annum for the amounts paid from the dates of respective payment till repayment by the developer. It fixed the Rs. 2 lakh compensation for mental agony, hardship and inconvenience caused to the homebuyer and a litigation cost of Rs. 20,000.
TNRERA directed the developer to pay the amount within 30 days of its order.
