Haryana RERA Orders Vatika Builders To Refund Rs. 84.34 Lakhs To Homebuyer For Delayed Possession

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Ashok Sangwan (Member), has directed M/s Vatika Sovereign Park Private Limited to refund ₹84.34 Lakhs with interest to homebuyer. The homebuyer, who booked the flat in 2016, was expecting possession by November 2020. Background Facts Homebuyer (Complainant) and his wife booked a flat in the builder's project named Sovereign Park located at Sector 99, Gurugram by paying a booking amount of Rs. 7 lakhs on January 18, 2016. The total consideration of the flat was Rs. 2,39,80,000. The homebuyer and builder entered into a builder-buyer agreement on May 10, 2016, as per which the builder was supposed to hand over possession of the flat by November 10, 2020. The homebuyer paid total amount of Rs. 84,35,706 to the builder. However, Project faced Delay in completion. In 2020, the builder offered an alternative flat in the "Seven Elements" project, but the homebuyer declined due to the undisclosed fact of a road being planned through the property. Subsequently the builder cancelled the Homebuyers' flat through a termination letter dated September 3, 2020, citing failure to make the outstanding payment of dues. Therefore, being aggrieved by the delay and termination of the flat the homebuyer filed a complaint before the authority seeking a refund of the paid amount with interest. Observation and Direction by Authority The authority noted that the termination notice dated September 3, 2020, was issued by M/s Vatika Limited. However, as per the addendum agreement executed between the parties on May 10, 2016 M/s Vatika Limited had transferred the project to M/s Vatika Sovereign Park Pvt. Ltd. Therefore, the authority found that M/s Vatika Limited had no authority to develop or sell the project. As a result, the authority held the termination notice as void ab initio. Authority held that since the builder failed to provide possession within the stipulated date. Therefore, under Section 18(1) of RERA, 2016, the builder is liable to return the amount received from the homebuyer with interest at the prescribed rate. Therefore, the authority directed the builder to fully refund the paid-up amount of Rs. 84,35,706 along with 11.10% p.a. interest to the homebuyer. Case – Avinash Lal & another Versus M/s Vatika Sovereign Park Private Limited Citation – Complaint No: 744 of 2023 Date – 11 December Click Here To Read/Download The Order

Haryana RERA Orders Vatika Builders To Refund Rs. 84.34 Lakhs To Homebuyer For Delayed Possession

Aryan Raj

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