The tide is turning: Sheths Vs Lodha developers
Thousands of cases are being fought fiercely between Lodha developers and home buyers. Even a few years ago, the builder had the upper hand. But these cases, where the home buyer emerged victorious, show that home buyers now have a fighting chance.
Background: Dr Naren P Sheth and Dr Sudha N Sheth, both senior citizens, had booked a flat in Lodha Luxuria, Thane, paying Rs 1.02 crore out of the total price of Rs 1.04 crore in instalments over a one month period. The remaining amount was agreed to be paid to the builder upon receiving possession. The builder, allegedly, refused to execute the agreement immediately. A few days later, the Sheths were asked to pay Rs 3.96 lakhs in cash (according to Sudha Sheth) for car parking.
If they didn’t pay, they would have had to execute an indemnity bond, giving up the car parking facility. A month later, the builder issued an allotment letter to the Sheths without assigning a parking lot. The Sheth’s plaint was dismissed by the district commission.
The Sheths then appealed to the national commission (NCDRC). However, when the district forum dismissed the complaint of the Sheths, the builder and promoter, cancelled the allotment of Sheths and sold the same to one another person. Rest of the case was contested at the National Commission. Lodha had contested almost all allegations of the buyer.
NDRC Verdict: Pay Sheths the entire amount of Rs 1.02 crore plus 18% interest from the date of deposit. Also, pay a compensation of Rs 1 lakh.
Time taken for the relief: 5.6 years.