Haryana RERA Orders Shine Buildcon To Pay Interest To Complainant For Delayed Possession Of Shop

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Vijay Kumar Goyal (Member), has directed M/s Shine Buildcon Private Limited, the builder, to pay interest to the complainant who purchased a shop in the builder's commercial project for delayed possession. Background Facts The complainant booked a shop measuring 179 sq. ft. in the builder's (Respondent) commercial project named 70 Grandwalk located in Sector 70, Gurugram, by paying an advance of Rs. 1,50,000/. The total sale consideration of the shop was Rs. 18,75,025/-, out of which the complainant paid Rs. 12,53,645/- to the builder. A buyer's agreement was executed between the complainant and the builder on 11.05.2015. According to the agreement, the builder was supposed to deliver possession of the shop by 11.01.2019. The complainant contended that when he visited the project site, he was shocked by the poor progress. Despite this, the complainant frequently asked the builder about the project's progress. The builder consistently gave false assurances that work was proceeding well and requested payments. Therefore, aggrieved by the delay, the complainant filed a complaint before the authority seeking interest for the delay, possession of the shop, and execution of the conveyance deed. Observation and Direction by Authority Authority referred to Clause 13 of the apartment buyer agreement, which stipulates that the company intends to offer possession of the apartment to the buyer within 42 months from the agreement signing date or building plan approval, whichever occurs later. The authority made an observation on the possession clause of the buyer agreement, stating that it is essential for both parties to have a well-drafted agreement that safeguards the rights of the builder and the buyer in case of disputes. The agreement should be written in simple and unambiguous language so that it can be easily understood by individuals with even an ordinary educational background. The authority held that the builder has contravened the provisions of the RERA, 2016 by failing to comply with the Builder Buyer Agreement, under which the builder was supposed to hand over possession of the shop within 42 months from the date of execution of the agreement. Therefore, the complainant is entitled to receive interest as per Section 18(1) of RERA, 2016. Therefore, the Authority directed the builder to pay the complainant interest for each month of delay from the due date of possession (15.05.2019) until the Date of offer of possession (15.10.2023), plus an additional two months, at an interest rate of 10.95% per annum. Case – Anisa & anr Versus M/s Shine Buildcon Private Limited Citation – Complaint No: 5702 of 2023Click Here To Read/Download Order

Haryana RERA Orders Shine Buildcon To Pay Interest To Complainant For Delayed Possession Of Shop

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Haryana RERA Orders Shine Buildcon To Pay Interest To Complainant For Delayed Possession Of Shop

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