Builder directed to pay Rs 9.42 lakh to applicants within 30 days
MARGAO
The Goa Real Estate Regulatory Authority has come to the rescue of a group of flat buyers after a real estate builder committed breach of obligations by failing to provide 3BHK flats to the buyers.
In a significant order, Goa RERA Adjudicating Officer, Vincent D’Silva has issued directions to the Pune-based builder to pay total amount of Rs 9.42 lakh to the flat buyers within 30 days. In the event of failure to comply with the directions, the real estate developer will be liable to pay to the applicants interest at the rate of 10.85% per annum till the date of realisation.
In the order, the Adjudication Officer directed the builder to pay to the applicants compensation of Rs 5,00,000 for violation of Section 18(3) of the RERA Act read with Section 71 of the RERA Act, within 30 days.
The builder was further directed to pay to the applicants an amount of Rs 1.17 lakh towards stamp duty and registration of fees for violation of Section 71 of the RERA Act.
Direction was also issued to pay to the applicants an amount of Rs 1.25 lakh towards legal fees in pursuing the litigation under Section 71 of the RERA Act.
Since the applicants have claimed financial losses, inconvenience, mental torture and agony, the Adjudication Officer has further directed to pay to the applicants an amount of Rs 2 lakh under Section 71 of the RERA Act, within thirty days of this order.
“No doubt, the applicants have suffered financial losses, inconvenience, mental torture and agony due to the litigation and non delivery of the 3BHK flat as agreed upon by the parties. There cannot be any dispute that the respondent has committed a breach of obligations in terms of the agreement for sale and have failed to convey a 3BHK flat exposing himself for payment of appropriate compensation for causing financial losses, costs, inconvenience, mental torture and agony towards the present proceedings under Section 71 of the RERA Act amounting to Rs 2 lakh,” D’Silva said.
Vincent added: “Admittedly, as per Rule 18 of The Goa Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017, the rate of interest payable by the promoter and the allottee shall be the State Bank of India highest Marginal Cost of Lending Rate of two per cent. At present, such lending rate of interest is 8.85% per annum. Hence, the respondents are liable to pay interest at the rate of 10.85% p.a. for every month of delay to the applicants by way of compensation on the total amount of Rs 9.4 lakh.”
The applicants have purchased the 3BHK flats by executing the agreement for sale in the year 2020 in the project at South Goa.
