Man gets Rs. 20 lakh for booked flat

Ten years after he booked a flat in a housing project at Samta Nagar, Kandivli (East) resident Arun Kadam will get around Rs20.69 lakh toward compensation for the flat, of which he did not get possession, including the booking amount paid by him.

Ten years after he booked a flat in a housing project at Samta Nagar, Kandivli (East) resident Arun Kadam will get around Rs20.69 lakh toward compensation for the flat, of which he did not get possession, including the booking amount paid by him.

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The Mumbai Suburban District Consumer Forum on Monday directed Truly Creative Developers to refund the booking amount for the 565-square-foot flat, with interest at the rate of 18% per annum from April 2005, when Kadam had paid the last instalment. He will also get an additional Rs5 lakh toward compensation for mental agony.

Kadam had paid Rs6.94 lakh after the Agreement for Sale was signed between him and the developer in June 2002. However, due to a legal dispute, the union of housing societies terminated the development agreement executed with Truly Creative Developers, which was replaced by SD Corporation.

Kadam, in his complaint, had also impleaded SD Corporation as party respondent, and had sought possession of the flat. The forum found it inappropriate to order handing over the possession of ready flat to him, since the matter is still under consideration of the Bombay high court. However, it ordered the developer to refund the amount along with interest and compensation considering that realty rates have multiplied manifold during the period.