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A developer who failed to deliver flats to buyers in time, have to compensate three of his clients as told by the Karnataka State Consumer Disputes Redressal Commission. A setting of 45 days deadline for the registration of the flats, the court said the builder that all world class facilities and amenities should be provided as mentioned in the brochure. In case if the builder fails to complete the sale deeds, the firm has to return Rs 1.2 crore with 18 percent interest paid by the complainants from the date of payment. The bench of justices said that the house rent for two bedroom with well-furnished in the open market is between Rs 12,000 and 15,000 p.m. The developers gave a brochure saying that they will provide facilities and world class amenities like departmental stores, backup generator, playground etc., but they failed to provide all those. Have they completed the sale deed on time, the person could have avoided paying rents of Rs 15,000 per month. The company will be responsible to pay compensation. In the brochure for the project the developer had promised to deliver the flats on time but it wasn’t done. Due to this delay many of the families paid more interest to bankers till the date they owned the flat. The buyers filed the complaint against the developers to perform the sale deed, as a compensation they insisted to refund the amount what they have deposited with the interest of 24 percent per annum or Rs 50,000 each as compensation. And a compensation of Rs 5 lakh for the unfair trade practice and lack of service provided. They are also seeking an amount of Rs 80,000 towards pre-closure charges. One of the members of the counsel department told the commission that as per court decision, the person is eligible for compensation if there is any loss of appreciation in the value of assets or if delivery is delayed as per specified time. The developer told that it was not possible for them to complete the work on time because of the increase in the material cost, delay in acquisition of land, labor and transportation charges and also instruction given from KPTC and BDA to stop the construction. The company failed to prove by producing documentary evidence. For more article please visit our official website: Property Reviews and Rating
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