Haryana RERA Directs Emaar India To Pay Interest To Homebuyer Of Emerald Hills Floors Project

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Vijay Kumar Goyal (Member), has directed M/s Emaar India Ltd to pay interest to homebuyer from its Emerald Hills Floors Project for delayed possession. Background Facts Homebuyer (Complainant) purchased a flat in the builder's (Respondent) project named "Emerald Hills Floors" located in Sector 65, Gurugram through an assignment letter dated June 6, 2018. The flat was originally booked by the previous owners under a builder-buyer agreement dated March 17, 2010, which required the builder to hand over possession within 27 months. The total sale consideration of the flat was ₹52,04,913. However, despite timely payments, the builder delayed possession by 74 months and finally offered it on August 21, 2018. Additionally, the homebuyer was forced to sign an indemnity-cum-undertaking, waiving any claims for compensation due to the delay. The homebuyer alleged that the builder engaged in misrepresentation, unfair trade practices and an unjustified delay in handing over possession. Aggrieved by the builder's conduct, the homebuyer filed a complaint before the authority seeking interest at 18% per annum as compensation. Observation and Direction by Authority The Authority referred to Clause 13(a) of the buyer's agreement, which stated that the builder would hand over possession of the flat within 27 months from the date of execution of the agreement, with a grace period of six months for applying and obtaining the occupancy certificate. Based on this clause, the Authority allowed the builder to avail the six-month grace period and determined that the due date for possession was December 17, 2012. Since the homebuyer was not the original allottee and had purchased the flat through a nomination letter dated June 6, 2018, the Authority referred to its decision in Monika Sharma & Anr., where it dealt with a similar situation. In that case, it was held that an allottee who acquires the flat through nomination is entitled to delay possession charges from the date of nomination until either two months after the offer of possession post-occupancy certificate or the actual handover of possession, whichever is earlier. Accordingly, the Authority directed the builder to pay interest at 11.10% per annum to the homebuyer from June 6, 2018, until possession was handed over. Case – Bidisha Biswas & Anr Versus Emaar MGF Land Ltd (Presently Known as Emaar India Ltd] Citation – Complaint No: 7323 of 2012 Date – 5th December Click Here To Read/Download The Order

Haryana RERA Directs Emaar India To Pay Interest To Homebuyer Of Emerald Hills Floors Project

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Haryana RERA Directs Emaar India To Pay Interest To Homebuyer Of Emerald Hills Floors Project

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