ASHEESH AGGARWAL Vs. GREATER MOHALI AREA DEVELOPMENT AUTHORITY

JUDGEMENT

(1.) By this judgment of ours, two cases bearing CWP Nos.19117 and 19118 of 2018 shall be disposed of as common questions of law and facts are involved. However, for the sake of brevity, facts are being extracted from CWP No.19117 of 2018.

(2.) Respondent i.e. Greater Mohali Area Development Authority (for short 'GMADA') launched a scheme namely, the Purab Premium Apartments in Sector 88, Mohali for allotment of residential flats of different sizes. Said allotment was to be made on the basis of draw of lots. Petitioner-Asheesh Aggarwal applied for allotment of type 2 flat and tentative price of said flat was Rs. 55 lacs. The petitioner deposited the earnest money of Rs. 5.5 lacs on 10.01.2012, which was 10% of the tentative price. The draw of lots was held on 19.03.2012. The petitioner was successful in said draw of lots. A letter of intent (for short 'LOI') for allotment of flat/apartment was issued on 21.05.2012 by respondent-GMADA. As per terms and conditions of the allotment, the allottee was required to deposit an amount of Rs. 11 lacs, being 20% of the total price of apartment/flat by 22.06.2012 to complete 30% of the price of apartment/flat as 10% had already been paid at the time of submission of application. As per clause 2.2 of the LOI, out of balance 70% price of flat, 65% price amounting to Rs. 35,75,000/- could be paid either under plan 'A' or under plan 'B'. As per plan 'A', 65% price has to be paid within a period of 60 days from the date of issuance of LOI. The allottee was entitled for rebate of 5% on 65% of the total amount. Accordingly, against 65% amount of Rs. 35,75,000/-, the allottee was required to deposit an amount of Rs. 33,96,250/-. As per plan 'B', 65% price could be paid in six half yearly installments along with interest @ 12%. The allottee was required to deposit a sum of Rs. 43,25,750/- towards 65% price. As per clause 2.3 of the LOI, balance 5% of the tentative price of the apartment/flat was payable at the time of possession. Further as per clause 3(ii) of the LOI, the possession of the apartment/flat was to be handed over to the allottee after completion of development works at the site within a period of 36 months from the date of issuance of LOI. It was also the condition that in case for any reason, the GMADA was unable to deliver possession of apartment/flat within the stipulated period, the allottee will have a right to withdraw from the scheme on moving application to the Estate Officer and he/she shall be entitled for refund of total amount with 8% interest compounded annually.

(3.) The petitioner deposited a sum of Rs. 11 lacs with respondent-GMADA on 16.06.2012 by opting plan 'A' and completed 30% of the tentative price of the apartment/flat allotted to him. Thereafter, he deposited a demand draft of Rs. 33,96,250/- on 23.07.2012, which was balance 65% of the tentative price of the apartment/flat under plan 'A'. In total, the petitioner deposited 95% of the tentative price under plan 'A' within the prescribed period. Balance 5% was required to be deposited at the time of possession.