[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Shashi kant shukla staff of
Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which
is as mentioned under.
NEW DELHI: The National Consumer Dispute Redressal Commission (NCDRC) has
ordered Emaar MGF Land to refund a home buyer's money with interest of 10.3% per
annum from the date of each payment till the date of refund.
The payment shall be made within three months from November 11.
The buyer represented by advocate Adita Parolia of PSP Legal pleaded that he had
booked an apartment in 2012 in the company's Palm Gardens project situated in
Sector 83, Gurugram.
The possession of the apartment was to be given in 36 months with a grace period
of three months. However, the possession has not been offered till date claimed the
buyer in his plea.
The advocate representing the builder said that though he is not aware of the date
on which the occupancy certificate was applied for the tower in which the alloted flat
is located, the said OC has been received after a written version was filed in May 2018.
The builder futher pleaded that the project was delayed as some of the flat buyers
did not pay their respective dues on time which resulted in the delay. The plea was
however outrightly rejected by the court.
Read more at https://economictimes.indiatimes.com/wealth/real-estate/ncdrc-orders-emaar-mgf-land-to-refund-home-buyers-money-with-10-3-interest/articleshow/72051205.cms