By Dr. Sanjay Chaturedi, LLB, Ph.D.
Mr. Ketan Gagra V/s JVPD Properties Pvt. Ltd. (CC006000000001312) Order Dated: 11th April 2018
The complainants have filed these complaints under SecfLon7,72 & 14 of the Real Estate (Regulation and Development) Act, 2015 (RERA) to claim refund of their amount from the respondents with interest The complainants complain that by relying on respondents’ false representations contained in allotment letters, false advertisements that respondents shall complete the project, they booked their flats.
However, the respondents by issuing a letter dated 24.07.20″17 expressed their inability to complete the Project and even thereafter the respondents have not returned their money and thus the respondents are guilty of Practicing unfair Practice and indulging in fraudulent act. All the terms and conditions of the allotment letters clearly indicate that the complainants agreed to purchase the flats for consideration to be paid by them in instalments depending upon the stages of the construction and the last instalment payable was at the time of handing over the possession. Therefore, merely because it is mentioned in Clause 10 of the allotment letters that the complainants are investors that will not make them the investors in the real sense.
Maha RERA Observed: I find that the respondents have collected money from the complainants by making false statement regarding completion of their project Bhagtiani Serenity. These facts also indicate that they have indulged in fraudulent act and practised unfair practice. Hence, they have made themselves liable to refund the amount of the complainants with simple interest at the prescribed rate which is 2% above the marginal cost of lending rate of interest of State Bank of India which is currently 8 05%, from the date of the receipt of the amount by the promoter.
Credits: Landmark Judgements of RERA (Book)