Builder has to pay for delay in giving flat
A builder cannot refuse compensation to a buyer if he fails to keep his promise of handing over possession of a flat within a stipulated time, the national consumer court ruled on Monday.
The court said the builder also cannot pay less than the agreed amount of compensation, on the plea that the price of the property has gone up and, therefore, the buyer stands to gain anyway.
“Such a contention of any builder is unjustified and unreasonable because after sale of the property all the benefits accrue to the purchaser and not to the vendor,” the National Consumer Disputes Redressal Commission said.
“In any case, if such contention is accepted, the builders/contractors would earn crores of rupees by delaying the delivery of possession of the flat/property for months together for one reason or the other,” the commission headed by Justice M.B. Shah said.
The compensation clause is usually decided between the buyer and the builder and put on the agreement papers at the time of the deal.
The ruling came on a complaint by two buyers who demanded 24% per annum interest from a builder for delaying possession.
Labels: Ansal Properties and Industries Ltd, builder made to pay for delay, Celebrity Homes, justice for apartment buyers, Kunj Behari Mehta, National Consumer Disputes Redressal Commission, Palam Vihar
posted by Develop India at
1:34 AM
1 Comments:
Booming markets invariably bring with it unsavory people, who try to make some quick money through dubious methods. This is more or less the state of India’s property market at this point of time. There are developers who sell the same piece of land to number of customers and there are those who sell land without clear titles or mandatory permissions from the authorities.There are many fly-by-night operators and others in the unorganized sector who indulges in such fraud. So what should a buyer do? I would suggest buyers to investigate the background of any developer thoroughly. Believe me, if you are not careful, your life’s savings could be at risk.For more view- realtydigest.blogspot.com
Post a Comment
Subscribe to Post Comments [Atom]
<< Home