AASHISH BANSAL Vs. IREO PVT. LTD.

JUDGEMENT

(1.) The present Consumer Complaint has been filed under Sec. 21 (a) of the Consumer Protection Act, 1986 (hereinafter referred to as "the Act") by the Complainants, against the Opposite Parties, namely, M/s. Ireo Pvt Ltd. and M/s. Nucleus Conbuild Pvt. Ltd., seeking refund of the money paid, as the Opposite Parties have failed to handover the possession of the Apartment booked within the stipulated period.

(2.) The facts as enumerated in the Complaint are that in November, 2011 the Complainants booked an Apartment with the Opposite Parties in the Project, "Ireo Gurgaon Hills" (hereinafter referred to as "the Project") located in the Village Gwal Pahari, Tehsil Sohna, District Gurgaon, Haryana for their personal use. Thereafter, the Apartment Buyer's Agreement (hereinafter referred to as "the Agreement") was executed between the Parties on 7/11/2012, i.e. after a year from the date of booking. It is alleged by the that some of the terms of the Agreement are arbitrary and one-sided in favour of the Opposite Parties and as the Complainants have already paid more than rupees One Crore, they have no option but to sign the same.

(3.) The Complainants have stated that till the date of filing of the Complaint they have paid a sum of 5,12,14,931/- out of the total sale consideration of 5,72,17,194/- and that the Complainants, in order to pay the sale consideration, took home loan of 4,25,00,000/- from ICICI Bank at floating rate of interest from 8.75% to 10.65% for a period of 180 months, which stands completely repaid. It is stated that the Complainants have opted for a construction linked payment plan and have paid all installments till 13th installment, as and when demanded by the Opposite Parties. The Complainants have further stated that the Opposite Parties have demanded 14th instalment, despite no progress in the development at project site.