Runwal Homes to pay Rs 69 lakh as interest for late possession
Real Estate

Runwal Homes to pay Rs 69 lakh as interest for late possession

The National Consumer Disputes Redressal Commission has ordered Runwal Homes to hand over a 1,215 sq ft Nahur flat to a Kemp’s Corner family and pay Rs 69 lakh interest, on the amount paid so far.

The commission informed that the builder might adjust the interest amount against the family’s balance payment for the flat.

The opposite party (builder) had to complete the construction and obtain the completion certificate and hand over possession to the flat allottee till March 2016. From the added evidence, it is confirmed that the Building Completion Certificate was issued on July 17, 2019.

The commission said that there is no proof or allegation filed to show that due to force majeure or the reasons specified in the contract, the construction could not be executed within the agreed time.

After the complainants, Arun Kedia and his family, who had already paid Rs 2.3 cr of the total amount of Rs 2.5 cr until August 2015, did not want to pay further until the builder assured possession after the March 2016 deadline terminated, the builder had cancelled the agreement. The commission said that due to lapses on the part of the opposite party (builder), the complainants are bearing a loss. The agreement for sale has been revoked illegally and is mala fide.

The commission said that the agreement claimed that the flat buyers should be given 30 days’ notice in writing before cancelling the agreement. There was no such notice issued. The intimation of cancellation was given through a letter dated March 15, 2017, which was illegal. The complaint was filed in 2017. The agreement date was June 5, 2013, and the possession was to be handed over by March 2016.

Image Source


Also read: UP RERA has decided to organise National Lok Adalat on July 10

Also read: Model Tenancy Act to make an effective rental market place in India

The National Consumer Disputes Redressal Commission has ordered Runwal Homes to hand over a 1,215 sq ft Nahur flat to a Kemp’s Corner family and pay Rs 69 lakh interest, on the amount paid so far. The commission informed that the builder might adjust the interest amount against the family’s balance payment for the flat. The opposite party (builder) had to complete the construction and obtain the completion certificate and hand over possession to the flat allottee till March 2016. From the added evidence, it is confirmed that the Building Completion Certificate was issued on July 17, 2019. The commission said that there is no proof or allegation filed to show that due to force majeure or the reasons specified in the contract, the construction could not be executed within the agreed time. After the complainants, Arun Kedia and his family, who had already paid Rs 2.3 cr of the total amount of Rs 2.5 cr until August 2015, did not want to pay further until the builder assured possession after the March 2016 deadline terminated, the builder had cancelled the agreement. The commission said that due to lapses on the part of the opposite party (builder), the complainants are bearing a loss. The agreement for sale has been revoked illegally and is mala fide. The commission said that the agreement claimed that the flat buyers should be given 30 days’ notice in writing before cancelling the agreement. There was no such notice issued. The intimation of cancellation was given through a letter dated March 15, 2017, which was illegal. The complaint was filed in 2017. The agreement date was June 5, 2013, and the possession was to be handed over by March 2016. Image Source Also read: UP RERA has decided to organise National Lok Adalat on July 10 Also read: Model Tenancy Act to make an effective rental market place in India

Next Story
Equipment

Mecbo America Launches Scorpion Concrete Crawler Boom

Mecbo America, a division of Blastcrete Equipment LLC, brings a new product to its lineup: the Scorpion Concrete Crawler Boom. The Scorpion provides contractors working in piling, drilling, tunneling or commercial construction with a flexible arm for placing concrete where needed without disrupting the jobsite. It is an economical enhancement for contractors who have a concrete pump but need an effective way to deftly move material to spots that are difficult or unsafe to reach using other methods. “As concrete contractors grow and the scope of their work changes, many recognize the need fo..

Next Story
Real Estate

Cluster Redevelopment and Affordable Housing to shape Mumbai’s Future

The Government of Maharashtra is accelerating efforts to expand affordable housing, with a focus on large-scale development under the MMR Growth Hub Project. As part of this initiative, the Maharashtra Housing and Area Development Authority (MHADA) will construct eight lakh homes by 2030, in alignment with NITI Aayog’s recommendations. This announcement was made today by Deputy Chief Minister and Housing Minister Eknath Shinde, who emphasized the government’s commitment to providing high-quality, affordable homes to citizens. The computerised housing lottery, organised by the MHADA Konkan..

Next Story
Infrastructure Urban

Cummins Reports Strong Fourth Quarter

The Board of Directors of Cummins India Limited (CIL), at their meeting reviewed, and approved the unaudited financial results for the quarter and period ended December 31, 2024. Performance Highlights (based on standalone unaudited financial results) for the quarter ended December 31, 2024: - Total Sales for the quarter at Rs 30.41 billion higher by 22 per cent compared to the same quarter last year and higher by 24 per cent compared to the previous quarter. - Domestic sales at Rs 25.77 billion higher by 18 per cent compared to the same quarter last year and higher by 28 per cent compared t..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?