The National Consumer Disputes Redressal Commission (NCDRC) has slapped a slap on real property developer Raheja and has ordered a repayment along with interest to pay in the case of delaying their Revanta project in Sector 78 in Gurgaon.

The decision was based on the complaint of 30 homeowners who sought relief from commissions.

The other entity (Raheja developers) is ordered to pay back the total amount of money deposited by the complainants concerned together with delay compensation of 9.9% per annum for the deposit amount starting at the time of the respective date of deposits until the realization date, within two months from the date of this order.

Raheja’s developer delaying Revanta Project

Any delay that exceeds two months will be subject to the interest of 12 percent annually during the same period NCDRC said in the order.

According to people who have homes, the project is delayed by 4 to 5 years, and with the pace at which that construction is progressing, it will take four years for completion.

“Haryana RERA” has sent notices to Raheja for failing to publish each quarter’s progress report and for not altering the project’s bank account.

The developer must also pay 354 crores to DTCP since it has fallen behind with EDC (external development costs). Most of this is for the Revanta project, ” added Arjun Singh Punia, a homeowner.

NCDRC Punishes Raheja’s Developer

The Commission has issued an order in three parts because consumers sought various reliefs.

Such orders highlight the despair of those who haven’t received delivery of their homes for ten years after booking the reservations.

The units that were scheduled to arrive in 2016 were still far from being completed, and the construction companies have made no attempts to complete the project, said Aditya Parolia, the partner of PSP Legal.

Even though the building company has paid 90% of the money, during the trial of this case, repeated attempts were made by the builder to delay the proceedings by threatening buyers or even trying to influence the Tribunal (the bench was forced to withdraw due to similar reasons).

However, the Commission was determined to bring justice to the innocuous buyers. Stated Parolia.

NCDRC Punishes Raheja’s for delaying Revanta Project

Raheja plans to appeal to the High Court against the order. We had already paid for Rs.51 million EDC as well as Rs 21 crore IDC, but the infrastructure for the outside is not yet complete.

In this situation, the company said in the statement that we couldn’t risk the homes of potential buyers by handing them possessions.

The project is near completion, and we have asked that the state government complete the infrastructure before possible possession.

When we sold the flats, it was a part of the application form and the contract as a precaution for buyers that the project would be completed only when the Government has completed external infrastructure, such as roads and sewerage lines, water lines, etc.

National Consumer Disputes Redressal Commission (NCDRC)

Buyers are aware of this provision, the spokesperson of the company stated.

This is the highest tower in Gurgaon and Haryana; that’s more than 60 floors high. We can’t put the life of customers by providing items that do not have the basic Govt infrastructure.

The company said that we are requesting the Government to accelerate the infrastructure development so our customers are not delayed in their delivery.

Larisa Realtech

The Commission has also instructed the builder to complete the construction of the house assigned to the son of the complainants in all aspects and after obtaining the necessary Occupancy Certificate at the cost of the builder as well as responsibility.

And then offer to the possession of the unit within three months of the date of this order, along with delay compensation of 8percent per year beginning from the date of possession.

As per the respective agreements that comprise the grace period until the date of the offer of possession or the receipt of an Occupancy Certificate or obtaining an Occupancy Certificate, whichever occurs earlier.

Suppose the other party cannot take control of the property within three months. In that case, it must return the deposit within four weeks following the expiration of two months, with compensation of 9 percent simple interest per annum beginning from the dates of deposits until the realization.

Any delay after October 2022 will result in an additional interest of 12 percent for the same time frame,” the order reads.

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