Haryana RERA Directs Ocean Seven Buildtech To Pay Interest To Homebuyer For Delayed Possession

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Ashok Sangwan (Member), has directed Ocean Seven Buildtech Pvt. Ltd., the builder, to pay interest to the homebuyer who was allotted a flat in the builder's Affordable Housing project named Expressway Towers, for delayed possession. Background Facts The Homebuyer (Complainant) was allotted a flat having 645 sq. ft. of carpet area and 99 sq. ft. of balcony area in the builder's (Respondent) project named Expressway Towers situated at Sector 109, Gurugram. The project was being developed by the builder under the Affordable Housing Policy, 2013. Homebuyer mentioned that after the allotment, they approached the builder for the execution of the builder's buyer's agreement; however, the builder paid no attention to their request, and till date no agreement has been executed by the builder. Homebuyer further mentioned that as per Clause 1(iv) of the Affordable Housing Policy, 2013, the builder was duty-bound to deliver the possession of the flat within 4 years; however, the builder has still to deliver the possession of the flat, and the project is far from completion. Therefore, being aggrieved by the delay, homebuyer filed complaint before the authority seeking possession of the flat, execution of conveyance deed in his favour, and interest for delayed possession as per Section 18(1) RERA, 2016. Observation and Direction by Authority The authority referred to Clause 1(iv) of the Affordable Housing Policy, 2013, which mentions that builders shall complete the project within four years from the date of building plan approval or environmental clearance, whichever is later. The authority held that since the builder has obtained environment clearance and building plan on 30.11.2017 and 26.09.2016, respectively. Therefore, the due date of possession would be calculated from the date of environment clearance (i.e., 30.11.2017) plus a 6-month extension that was provided to the builder due to the COVID pandemic. Thus, the due date of possession will be 30.05.2022. Hence, the authority directed the builder to pay at the rate of 11.10% p.a. to the homebuyer from the possession date (May 30, 2022) until the date the builder makes a valid offer of possession to the homebuyer, plus an additional two months. Case – Shreya Sachan Versus Ocean Seven Buildtech Private Limited Citation – Complaint No. 8103 of 2022 Date of Order – 25.09.24Click Here To Read/Download Order

Haryana RERA Directs Ocean Seven Buildtech To Pay Interest To Homebuyer For Delayed Possession

Aryan Raj

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