Builders refund money before pronouncement of order

Shimla, January 21

A builder registered with HP Real Estate Regulatory Authority refunded money to a aspirant buyer before pronouncement of order by the Regulatory Authority.

The sources from HP RERA said that that the authority had received twelve complaints from against Rajdeep & Company Infra Pvt. Ltd. And others. He said that eleven complaints were decided in the favour of allottees while one other complaint was due for hearing. This was of the project named as Himalaya Residency located at Bharari near Shimla.

He said that the Regulatory had decided the eleven cases on merit and directed to refund of the amount paid by the allottees to the promoter developers. The amount collectively was approximately Rs. Two crore with 9.3 percent interest. The regulator also imposed penalty for not fulfilling of the obligations under the Real Estate (Regulation and Development) Act, 2016 over Rs. 31 lakhs. The amount would be deposited in the RERA account for non completion of obligations under the Act.

In case developers failed to pay the panel amount in two months they would have to pay a penalty of double the amount.

The Counsel for one allottee in Block D of the project apprised that the respective promoter had amicably settled to refund the amount paid to her worth Rs. 8,71,680 with interest amounting to a total of Rs. 10 lakhs. He appreciated justice provided to his client by HP RERA for initiatives to settle the case.



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