Mumbai builder to shell out Rs 4.9 Lakh for delay in granting possession | mumbai | Hindustan Times
Today in New Delhi, India
Jan 20, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Mumbai builder to shell out Rs 4.9 Lakh for delay in granting possession

mumbai Updated: Nov 13, 2011 00:49 IST
Kanchan Chaudhari
Kanchan Chaudhari
Hindustan Times
Highlight Story

Enforcing the buyers’ right to compensation for delay in getting possession of a flat, the Maharashtra State Consumer Disputes Redressal Commission last week directed builder Sainath Enterprises to pay simple interest at the rate of 12% per annum, amounting to Rs 4.91 lakh, on the cost of two flats purchased by Sudarshan and Veena Singh.

The elderly couple had booked the flats at Powai Vihar Complex in April 1993 for Rs 9.10 lakh and was promised possession by July that year, but possession was delayed until December 1997.

The Singhs approached the commission in 1999, seeking the interest payment, as provided for in the sale agreement, but the builder sought to justify the delay, contending that the couple was aware of legal proceedings involving the property.

A bench comprising presiding officer PN Kashalkar and member Dhanraj Khamatkar, however, found that no order restrained the builder from continuing the construction work, and ordered him to abide by the terms of the sale agreement.

<