NCDRC orders Vatika to refund buyers’ money with 9% interest

The National Consumer Dispute Redressal Commission (NCDRC) has directed Vatika to refund buyers’ money along with 9% interest per annum as compensation with effect from the date of each payment, till the date of refund.

The buyers through their advocate Aditya Parolia of PSP Legal pleaded that they had booked a flat in Vatika Tranquil Heights, situated in Sector 82 A, Gurugram in 1.74 crore in 2015. The construction of the flat was to be completed within 48 months. Seeing no progress in the project when the complainants enquired, the builder said that the possession of the unit is expected to be completed by 2022.

The buyers hence sought refund on which the builder demanded a 10% of the total consideration alongwith deduction of other non-refundable deposits.

The builder pleaded that the the complainants did not wait till the agreed date of possession, i.e., 24.08.2019 and filed the present complaint in the year 2018. They also said that the buyers had booked the apartment for the purpose of investment. Also, as per builder-buyer agreement, in case of refund, builder is entitled for deduction of Earnest Money and all other non-refundable amounts.

The court observed that even today, in the year 2020, builder are not in a position to handover the possession of the unit hence it is held that the complaint is not pre-matured and Complaint has been filed within time. Further, the plea of the builder that the buyers had booked the unit for the purpose of investment and not for their own use, is not supported by any documentary evidence.

The buyers cannot be made to wait indefinitely as the possession of the flat has not been handed over to them so far and are entitled for refund of the principal amount with reasonable interest and compensation.

The builder has also been asked to pay Rs 25,000 as the cost of litigation to the buyer.

Source