NCDRC directs the builder to refund money to homebuyers with 9% annual interest
Ghaziabad: The National Consumer Disputes Redressal Commission (NCDRC) in a judgment in the Antriksh Sanskriti case has directed Antriksh Realtech Pvt Ltd to refund the entire amount deposited by the complainants at the interest rate of 9% per annum. In case of non-payment within three months, the opposite party will have to pay the principal amount along with interest at the rate of 12% per annum.
Significantly, this decision has come as a relief to the aggrieved homebuyers of the Antriksh Sanskriti project located on NH-24, Ghaziabad, under which orders have been issued to ensure recovery of the amount stuck in the project for their lifetime.
The buyers who had felt cheated as this project was delayed for over a decade, have expressed happiness over this decision of NCDRC.
Ghaziabad resident Piyush Mishra said in a conversation that he had booked a flat of 1150 square feet in Antriksh Sanskriti in the year 2011, whose possession was to be given by 2014-15, but even after 11 years, there is no sign of the possession of his flat.
This project was sealed many times due to the non-deposit of the Ghaziabad Development Authority (GDA) money and was completely stalled since 2018. When all the buyers got upset with the builder, then they complained to NCDRC in the year 2017, whose decision has come after 5 years on October 7, 2022.
Due to the verdict, it seems that now buyers will get back their stuck in this project, said a homebuyer.
The NCDRC in its order said that one of the objections raised by the builder was that they have not been able to complete the construction due to unforeseen circumstances beyond their control. The NCDRC is of the view that the complainants have nothing to do with any ongoing dispute in the project and homebuyers cannot be asked to wait indefinitely. The court, in its judgment, further observed that there has been an inordinate delay on the part of the producer in completing the project. Most of the complainants paid a substantial amount of the total consideration and as per clause 30 of the contract, the possession was to be given within 30 months from the date of allotment with a grace period of 6 months but even after the expiry of about 6 years, the builder was not able to complete the project.
However, there is also the fact that more than 50 recovery certificates issued by Uttar Pradesh Real Estate Regulatory Authority (UP RERA) in Antriksh Sanskriti Project were gathering dust in DM-Tehsildar offices for years without adequate action. Due to non-compliance with the recovery builder issued by UP RERA, the said allottees were forced to knock on the doors of the judiciary. On their request, the Allahabad High Court issued orders to the District Magistrate of Ghaziabad several months ago to ensure the recovery of the concerned Recovery Certificate (RC) amount, but those have also not been complied with. Home buyers have even been forced to serve contempt of court notices to the district administration for its failure to implement the orders of the High Court, but their expected results are yet to come out to date.