POOLLA ANANTA ARUN Vs. TASLEEM ABDULLAH

JUDGEMENT

(1.) Heard Ms. D. Shalini Shravanthi representing Sri D. Srinivas Prasad, Learned Counsel for the applicant and Sri Abhinav Krishna Uppaluri, representing Sri S. Jasbeer Singh, Learned Counsel for the respondents.

(2.) This application is filed to appoint a sole arbitrator to decide the claims and disputes between the applicant and the respondents in terms of the arbitration clause in the agreement dtd. 27/1/2013 and to grant costs of the application to be paid by the respondents to the applicant.

(3.) Learned Counsel for the applicant submits that the respondents through their GPA holder has agreed to sell the flat admeasuring 3500 sq. feet in the ground floor in Block A in Tower No.A11 in the apartment known as 'Grand Luxus" with proportionate undivided share in the land out of the total land admeasuring 8,830.73 sq. yards with three car parking areas in the 5 cellars and a servant quarter forming part of the premises, by way of agreement of sale dtd. 27/1/2013 for a total sale consideration of Rs.73,50,000.00. The said complex has to be constructed within a period of 24 months with a grace period of 6 months from the date of agreement. If there is delay beyond 30 months inclusive the grace period of 6 months, the respondents agreed to pay a sum of Rs.20.00 per sq. feet for the total extent of flat till the date of delivery of possession of the said property completing with all aspects.