BPTP To Refund 1.19 Crore To Homebuyer
In its first order passed against a real estate company during the coronavirus pandemic through the virtual mode, the National Consumer Disputes Redressal Commission has directed a real estate company to refund Rs 1.19 crore to a homebuyer along with an interest of 10 percent per annum. The builder, BPTP, has also been ordered to pay Rs 50,000 as cost of litigation. The order has to be executed within three months from the date of receipt of the order. The homebuyer, in his complaint, had alleged unfair trade practices such as deficiency in service despite having paid 80 percent of the unit's amount to the builder, extension of construction period, onerous and one-sided terms and conditions which the buyer had to accept and also an escalation in total consideration from Rs 1.26 crore to around Rs 1.45 crore. As per the complaint, the builder unilaterally extended the time period of the delivery from 30 months in the allotment letter to 36 months in the FBA. The buyer had paid Rs 1.19 crore to the builder and possession was due in 2016. The buyer, in his complaint, had asked for handing over possession of the unit within six months, failing which he wanted 100 percent refund of the total Rs 1.19 crore with penal interest of 18 percent per annum from the date of receipt of the payments. The builder had argued that there was no question of any delay in offering possession since the complainant was an investor and did not wish to take possession since the real estate market was in decline.
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