Haryana RERA Directs Pareena Infrastructures To Pay Interest, Execute Conveyance Deed In Favour Of Homebuyer

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Arun Kumar (Chairperson) has directed Pareena Infrastructures Pvt. Ltd to pay interest and execute conveyance deed in the favor of homebuyer. Background Facts The homebuyer (Complainant) purchased a flat in the builder's (Respondent) project named Micasa located at Sector 68, Gurugram by paying Rs. 6,00,000/- as a booking amount. The total sale consideration of the flat was Rs. 84,13,380/-. After various attempts by the homebuyer to contact the builder the builder executed the Builder Buyer Agreement (BBA) with the homebuyer on 28.01.2016. The homebuyer paid a total of Rs. 73,86,985/- including TDS and GST payments to the builder. The homebuyer contended that the builder had promised to arrange loan approval for the flat but failed to provide the necessary assistance and delayed handing over the required documents to the bank. The homebuyer had to make numerous visits to the office before finally receiving the documents. Despite paying more than 85% of the total consideration the builder failed to provide possession of the flat on the promised due date (i.e., 26.10.2020). Aggrieved, the homebuyer filed a complaint before the authority seeking possession, delayed interest and execution of the conveyance deed. Observation and Direction by Authority The Authority referred to Clause 13 of the BBA which stipulated that under normal conditions and subject to force majeure events the builder must complete the construction of the building where the flat is located within 4 years from the start of construction or the signing of the agreement whichever is later. As a result authority held that the homebuyer is entitled to receive interest from the builder for every month of delay from the due date of possession (26.10.2020) until the date of a valid offer of possession plus two months after obtaining the occupation certificate or the actual handing over of possession whichever is earlier. Further, Authority referred section 17 of RERA, 2016 which requires the builder to execute a registered conveyance deed and hand over physical possession of the property and common areas to the homebuyers or their association within the specified period as per local laws. Therefore, Authority directed the builder to execute the conveyance deed in favour of the homebuyer after settling the dues within 90 days. Case title – Tarakeswar das & anr versus Pareena infrastructures pvt. Ltd. & others Citation – complaint no: 5638 of 2023 Order of date – 08/11/2024Click Here To Read/Download The Order

Haryana RERA Directs Pareena Infrastructures To Pay Interest, Execute Conveyance Deed In Favour Of Homebuyer

Aryan Raj

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