The Builder will have to refund the amount with interest to Homebuyer if possession of the flat is not given on time. Jaypee Builder has been ordered by The National Consumer Disputes Redressal Commission (NCDRC) to refund the money along with interest for non-delivery of the booked flats in the Cove Greater Noida Project located at Jaypee Sports Green City in Yamuna Expressway Industrial Development Authority Area.
This action was taken on the complaints of Jaypee Cove Buyers Association filed by 71 home buyers. NCDRC has ordered the builder Jaiprakash Associates Limited to return the entire amount deposited by homebuyer within 6 Weeks with simple interest @ 9%. Apart from interest the builder will have to give Rs. 50,000 to each of the complainants home buyers. These flats were booked in 2011-2012 & almost 90-95 percent amount was paid by homebuyers to builder. The specified period for handing over the possession of flats was 42 Months. The Homebuyer association accused the builder of deficiency in service.
Opposing the complaint, on behalf of builder it was said that the NCDRC does not have right to hear to the case as cost of each flat is less than Rs. 60 lakhs. Moreover, as per builder some buyers are defaulters & cannot seek compensation for their mistakes.
The Builder said that the matter should be sorted out by mutual agreement. For delay, the builder stated that things were not in his control, which resulted in delay in possession.
The NCDRC has also clarified that those who have already settled the matter with the builder will not be allowed to take benefit of this order. Also, those homebuyers who have taken Home Loan will have to pay the home loan first, then can use the balance funds for themselves.
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