On 6th August,2019 SC passed a verdict for a project in Pune in regards to Marvel Selva Ridge Estate,Marvel Omega Builders, the developer, in this case, sold a Villa to Shrihari Gokhale in July 2012 with a promise to return the Villa by December 31, 2014. Buyer filed a complaint in NCDRC in 2016 asking for the refund of Rs 13.24 crore. On which the Builder challenged the order passed by the NCDRC in Supreme Court, to refund only Rs 8.14 crore principal amount with 10% annual interest to the respondent. SC after observing found that the complete failure was from the builder’s side, that it failed in providing its services on time to the customer.
A Supreme Court bench of Justice U U Lalit and Justice Vineet Saran said, even if the Villa is ready for the occupation as asserted by the appellants, almost delay of 5 years cannot be ignored and is a crucial factor. The bargain here by the builder cannot be imposed on the respondents. According to which respondents are very much justified for claiming a refund of the amounts deposited by them with a sum of reasonable interest on the said deposited amount. Therefore the findings by the National Consumer Disputes Redressal Commission (NCDRC) to the Pune-based builder cannot be said unreasonable or incorrect on any account.
As per the order, the Supreme Court held that a builder cannot impose a buyer for taking the possession of a completed house if its making is delayed. The customer can also seek a refund and it’s justified.
Tags : #Realestate #Company #Building