NCDRC Directs Godrej Projects To Refund Rs51.36 Lakh to Home-buyer

NCDRC Directs Godrej Projects To Refund Rs51.36 Lakh to Home-buyer

NCDRC Directs Godrej Projects To Refund Rs51.36 Lakh to Home-buyer

entire principal amount of Rs51,36,338 to the buyer, along with compensation in the form of simple interest at the rate of  9% per annum from the date of each payment till the date of refund.  The principal amount refundable is subject to verification of actual amount paid by the complainant, based on receipts, etc, it said.
 
The developer has also been asked to pay an amount of Rs25,000 as cost of litigation to the  complainant and directed the builder to make the payment within  three months from the date of the order.
 
The apex commission said that if the buyer has taken a loan from a bank or financial institutions and if it is still outstanding, the refund amount will be first utilised for repaying the outstanding amount of such loans and balance will be retained by the buyer. The buyer has been directed to submit the requisite documents from the concerned bank(s)/financial institution(s) to the builder within four weeks from receipt of the order to enable them to issue refund cheques/drafts accordingly.
 
Builders routinely advertise and sell housing projects, claiming that the site would soon be connected with metro or multi-lane roads. The NCDRC order will make the builders think twice about making such claims in their advertisements and, as a group, also work to ensure pressure on the government to complete infrastructure, utilities and public amenities in specified time frames. 

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