The National Consumer Disputes Redressal Commission (NCDRC) has ordered that compensation be calculated at 6% of the total cost of a flat for every month’s delay. The developer of Ramprastha City was asked to repay the amount to the buyers within a month after the order.
GURUGRAM: The National Consumer Disputes Redressal Commission has ordered the developer of a housing society in Sector 37D to pay around 200 homebuyers a repayment or compensation for delaying the handover of the flats to buyers.
NCDRC orders the builder of Ramprashta City to pay the penalty.
The National Consumer Disputes Redressal Commission ordered that the compensation be calculated at 6% of the total cost of a flat for delays every month.
The developer of Ramprastha City was asked by the commission to pay the compensation money to the buyers within a month of the order.
The order by Justice Ram Surat Ram Maurya on September 22 stated that the developer would issue a new statement of account in terms of the apartment buyer’s agreement, duly crediting delayed compensation with an interest rate of 6% per annum when buyers buy their home from the due date of possession, within one month.
NCDRC orders the builder to pay the penalty to buyers for delay in flat handover.
If, according to the statement of account, any money is payable to the homebuyers, the developer will give money to them. If the homebuyers are required to deposit any compensation, they will deposit the money within six weeks from the date of service of the statement of account.
Ramprastha City was Spread across 450 acres and launched in 2008, and the developers of the flat promised homebuyers to hand over the flats within four years.
When ownership was delayed, a group of homebuyers moved to NCDRC in 2015. The society, whose ownership eventually started in 2018, is now home to almost 1,500 families.
National Consumer Disputes Redressal Commission (NCDRC)
The NCDRC also ordered the developer to execute a conveyance deed in favor of those homebuyers who had yet to get their flats and deliver ownership to them within two weeks.
If the occupation certificate (OC) needs to be secured for any tower, the developer must complete the society construction and obtain the document within four months.
The group of homebuyers who had been fighting for their home’s legal battle for almost seven years is now happy.
The developer tried to create cracks among the buyers by persuading them to sign insurance bonds. The developer strained us and tried to break our unity by creating divides between us.
The company delayed ownership and registry, etc. The forum has set a precedent by declaring such indemnity bonds illegal and ordering the builder to compensate buyers.
I had a solid belief in the NCDRC. In the past seven years, we have all our best efforts to get justice. Pradip Rahi, president of the RP City welfare association, said.
This is a big win for all of us, Pradip Rahi added. The developer did not respond to repeated calls for comment after the order.