The builder will pay the buyers Rs 7 lakh for causing mental torture, anxiety and frustration and Rs 2 lakh as the cost incurred on fighting the case.

The NCDRC passed the order after hearing a petition filed by Subhash Mahajan and Abhishek Kumar Dwivedi. It rejected builder’s argument which said the commission had no right to hold a hearing on the complaint.

The NCDRC ordered the Parsvnath Developers to return Rs 50,78,998 and Rs 56,02,399 to Mahajan and Dwivedi respectively with 18 percent interest.
The builders will have to pay interest to the buyers right from the date of booking to the date of returning money.

Apart from this, the developers will have to pay Rs 7 lakh within 90 days to each of the buyers for causing them mental agony, failing which they will have to pay interest at 24 percent.

According to the complainants’ lawyer Saurabh Jain, Mahajan and Dwivedi had booked three-bedroom flats in Parsavnath Privilege in Greater Noida in 2007. They have already paid total amount for their respective flats. As per the agreement, the builder had promised to handover possessions of their flats within 36 months.

It was mentioned in the agreement that if the builder fails to do so, it will return the money to the buyers at the rate of Rs five per sq ft a month.

Both the buyers borrowed loan from the bank at higher interest rate. When they did not receive the flats even after seven long years, the buyers had no option but to lodge complain with the commission.


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