Right
of the allottees to claim amount from the Developer
As per Section
18(1) of the Real Estate (Regulation and Development) Act, 2017, the allottee
has a right to claim the amount paid by him to the promoter in respect of any
apartment/plot/building.
Circumstances
under which the allottee can claim refund of amount:
·
If the promoter fails to give possession
of the apartment/plot/building in accordance with the terms of agreement of
sale, duly completed by the date specified therein, or
·
If the promoter discontinues his
business as a developer due to:
o
suspension or revocation of
registration, or
o
Any other reason
Allottee
has the following options in case of above mentioned circumstances:
·
The allottee can withdraw from the
project, or
·
The allottee can continue with project
·
If
the allottee withdraws from the project:
o
Allottee can claim, the amount paid by
him in respect of that apartment/plot/building, without affecting any other
remedy available; and,
o
Interest @ 2% above the prevalent
Highest Marginal cost of lending rate of State Bank of India prevailing on the
date on which the amount becomes due and;
o
Compensation as may be decided by the
Adjudicating Officer appointed for the purpose, after giving the person
concerned a reasonable opportunity of being heard.
·
If
the allottee continues with the project:
o
Can claim interest at 2% above the
prevalent Highest Marginal cost of lending rate of State Bank of India for
every month of delay till the handing over of the possession.
Conclusion:
Recently, a
complaint was filed under Section 18 of RERA by Kamlesh Ailani against Ekta
Parksville Homes Pvt. Ltd. In that the parties amicably settled their dispute
and the complainants received full amount of their advance payment and their
claim was fully satisfied.
The copy of the
order can be downloaded from the following link:
No comments:
Post a Comment