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 The agreement for sale has been revoked illegally and is mala fide.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
Real Estate

Capacit’e Infraprojects Wins Rs 6.21 billion order from Saifee Burhani Upliftment Trust

Capacit’e Infraprojects has secured a Letter of Intent (LOI) worth Rs 6.21 billion (excluding GST) from Saifee Burhani Upliftment Trust (SBUT) for the execution of core and shell works, finishing, MEPF services, and other associated components of the redevelopment project—Sector 07 of the Saifee Burhani Upliftment Project—located at Ward ‘C’, Bhendi Bazaar, Mumbai. This is the third repeat order from SBUT to Capacit’e Infraprojects, underscoring the trust and satisfaction of a long-standing client in the company’s project delivery capabilities. Commenting on the develop..

Next Story
Resources

K Raheja Corp's Volunteering Drive Brings Back-to-School Cheer for Underprivileged Kids

Real estate major K Raheja Corp concluded its latest community initiative under the ‘Time Off for Volunteering’ programme, titled Paint a Pair, Show You Care. Held in association with NGO ConnectFor, the campaign was part of a larger 'Back to School' drive aimed at supporting underprivileged students from the Jhanvi Charitable Trust. More than 45 employees from across group companies—Mindspace Business Parks, Chalet Hotels Ltd., K Raheja Corp Homes, and Inorbit Malls—came together to hand-paint over 60 pairs of canvas shoes for children preparing to return to school. Volunteers al..

Next Story
Infrastructure Urban

CCI Worldwide Logistics Launches ‘Trans Africa’ Freight Service

CCI Worldwide Logistics, the international freight forwarding arm of the CCI Group, has launched ‘Trans Africa’—a technology-led logistics platform aimed at streamlining cross-border trade across Africa. The company is investing Rs 1.06 billion in the initiative, targeting an annual freight volume of 5,000 TEUs by air and sea, with an estimated 15 per cent return on investment. The service is being rolled out in key markets such as Nigeria, Kenya, South Africa, Ghana, and Egypt, with planned expansion into Francophone West Africa, Central Africa, and landlocked nations including Uga..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?