9911796707
TMI Blog2024 (8) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of DLF HOME DEVELOPERS LTD. AND ORS. VERSUS CAPITAL GREENS FLAT BUYERS ASSOCIATION AND ORS. [ 2020 (12) TMI 1400 - SUPREME COURT] has held to the contrary. Therefore, the contention in that regard is without substance. The learned Commission has rightly directed the respondent-Developer to refund the entire amount deposited by the complainantsappellants. However, it is found that, insofar as award of interest at the rate of 9% per annum is concerned, the learned Commission was not justified in the facts of the case to award a lesser interest than even the one agreed upon in the Agreement. Undisputedly, the facts of the case show that the project was delayed inordinately. The complainantsappellants were made to suffer for long, for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and construction of inter alia residential projects as well as projects for the Delhi Metro Rail Corporation, launched a group housing project (hereinafter referred to as the project ) titled Parsvnath Paramount at Subhash Nagar (near Subhash Nagar Metro Station), New Delhi in the year 2008 and widely publicized the same. 2.2. Upon gaining knowledge of the project, the complainants-appellants booked a 3BHK flat in the said project and to that end, deposited a sum of Rs.16,03,066/- on 15th July, 2008. Subsequently, the complainantsappellants paid second instalment of an identical sum on 14th August, 2008. 2.3. Subsequently, the complainants-appellants and the respondent-Developer entered into a Flat Buyer Agreement (hereinafter referred to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in Tower 3, which had been initially allotted to the complainants-appellants, to Flat No. 702 situated in Tower 2, admeasuring 1942 sq. ft., in April, 2011. 2.6. Subsequently, the respondent-Developer raised a demand for the payment of VAT amounting to Rs. 60,141/- which was duly paid by the complainants-appellants on 29th January, 2014. A second payment of an identical sum was made on 13th March, 2014. 2.7. In the interregnum, the period of 36 months set out in the Agreement, including the grace period of 6 months, had expired. 2.8. On failure of the respondent-Developer to handover the possession of the flat within the expected deadline, despite timely payments, the complainants-appellants made several attempts to contact the responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quently, the complainants-appellants addressed two further letters to the respondent-Developer on 28th October, 2015 and 6th January, 2016, respectively, once again raising queries as to when the construction would be completed and the possession would be handed over to them, whether the construction would be completed at all and the manner in which the complainants-appellants would be compensated for the delay in conclusion of the project. However, the respondent-Developer did not respond to the said letters. 2.12. Aggrieved thereby, the complainants-appellants filed a complaint before the Commission being Consumer Case No. 1557 of 2016 praying for a refund of the entire amount paid by them as per the current market value along with intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble to pay interest only at the rate of 12% per annum. 6. Shri Jain therefore submitted that, applying the principle of parity, the learned Commission ought to have awarded the interest at the rate of 24% per annum. It is submitted that, in any case the interest at the rate of only 9% per annum is not sustainable in law. 7. Per contra, Shri Jayant Muth Raj, learned Senior Counsel appearing on behalf of the respondent-Developer submitted that the delay in completion of the project was not deliberate. He submitted that, since there was a delay in sanctioning of the plans by the Delhi Development Authority, the project could not be completed. It is therefore submitted that the case was duly covered under the force majeure clause and as such, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
