Last Updated on April 27, 2020 by Legalseva.net
A complaint was filed by a husband and wife against the MD of Credo Assets in the Project SBP City of Dreams, Landran-Kharar Highway, of Sector 116 of Mohali. Both the complaints and builders had full intentions of fulfilling the terms of their agreement but something went miserably wrong and Order from the Punjab Real Estate Regulatory Authority (RERA) states the facts as below:
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- Satish Kumar Sharma and his wife Kusum Sharma, residents of Mohali booked 2 flats (no. 618 and 619) with SBP City of Dreams. 619 were booked under the name of Satish Kumar Sharma’s father Sh. Paras Ram Sharma.
- Total sum of Rs. 4,65,800/- was paid in respect of two flats by applicants.
- The applicants’ later adjusted (by request) payment to be for no. 619 only.
- There was no forfeiture clause as per the proposal of neither the booking nor the allotment letter issued to the complainants to clarify the terms and conditions.
- Complainants emailed the respondents for withdrawal from project and after persistent demands, respondents agreed to reimburse the paid amount if the loan the complainants applied for did not pass from the bank.
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- Respondents claimed that the complainants failed to make installments and therefore forfeit the amount paid.
- Complainants raised the fact that they were not at fault due to the bank refusing the loan and no other sources of funds were available.
- 09 October 2018: Letter from respondents issued letter rejecting application of complainants booked flats in question
- Adjudicating Officer (AO) of RERA noted that the payment of 465800 was made and request for withdrawal by email was made on 24 July 2018.
- Respondents encouraged the complainants to try to acquire funds from elsewhere but the arrangement of funds was unsuccessful. Complainants continued to seek for refund plus interest and compensation.
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- Since respondents had agreed to refund the paid amount due to bank refusals by email, respondents were ordered to honour their own terms which void the forfeiture clause.
- Usually; 10% is always held by the builder when refund is the case but in this matter the full amount was paid back
- 9% interest was also awarded on the said amount within 60 days.
- Compensation was ruled out since the complainants withdrew from the project.
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The consumer was relieved of the stress of knowing that he would lose money; not even the 10%. The builders had agreed to refund the full amount in writing and that was the main factor in this refund. This case goes to show how important it is to have proof in writing; the terms and conditions of any agreement as long the contract is not illegal.
Also Read- Rera Punjab & Panckula Haryana Appellate Authority
For case specific advice, please contact top/best/expert RERA Punjab Lawyers Advocates in Chandigarh Panchkula Mohali Kharar Derabassi Zirakpur Baltana Mullanpur (Punjab Haryana)
More on 99888-17966.
