NCDRC asks Parsvnath to refund money with 18% interest for flat delay
NEW DELHI: The National Consumer Disputes Redressal Commission (NCDRC) has asked Parsvnath Developers to refund Rs 42.37 lakh, along with 18% interest to a buyer for delay in flat delivery.
Delhi-based Aditya Laroria had bought a flat in Parsvnath Privilege project in Greater Noida in October 2010, but had till date not been given possession.
The firm “could not complete the projects in which the residential flats were booked by the complainant, either within the agreed time of thirty-six months or even within a reasonable time thereafter, and even today the project is nowhere near completion, the complainant is entirely justified in seeking refund of the amount, which he had paid to the opposite party,” said NCDRC presiding member Justice VK Jain.
The builder has seen many such cases going against it recently.
On May 6, NCDRC directed Parsvnath Developers to refund the entire amount paid by around 70 home buyers in its Parsvnath Exotica project in Ghaziabad with 12% interest for failing to complete the apartments on time.
In an another order recently in favour of a home buyer, NCDRC had directed the builder to repay the total amount of about Rs 47.5 lakh along with 18% annual interest for failing to hand over a flat he had booked in 2007 in Parsvnath Priviledge project in Greater Noida.