AMIT KUMAR JAIN Vs. PARSVNATH DEVELOPERS LIMITED

JUDGEMENT

(1.) HeardMs. Vandana S. Bhandari, Advocate, for the complainant and Mr. Prabhakar Tiwari, Advocate, for the opposite party.

(2.) Amit Kumar Jain has filed above complaint for directing the opposite party (i) to refund the amount of Rs.10976103.98, with pendente lite and future interest, (ii) to pay Rs.10.00 lacs as the compensation for mental agony and harassment, (iii) to pay cost of litigation and (iv) any other relief, which is deemed fit and proper in the fact and circumstances of case.

(3.) It has been stated in the complaint that Parsvnath Developers Limited (the opposite party) (hereinafter referred to as the builder) was a company registered under the Companies Act, 1956 and engaged in the business of development of residential and commercial building and selling its unit to the prospective buyers. The builder launched a project in the name of "Parsvnath Privilege", at Plot No.-11, Sector-Pi, Greater Noida, Gautam Budh Nagar in the year 2006 and made wide publicity. The complainant booked a 3 Bedroom flat (super area 1855 sq.ft., basic sale price Rs.5286750.00) on 30/4/2006 and deposited Rs.1000000.00. The builder provisionally allotted Flat No.T-17-1103 on 23/2/2007. Flat Buyer Agreement was executed on 6/9/2007. Clause-10 (a) of Flat Buyer Agreement provides that construction of the flats was likely to be completed within 36 months from the date of commencement of the construction of the particular block on receipt of all requisite approval. As per demand, the complainant deposited Rs.321688.00 on 20/3/2007, Rs.805200.00 on 6/10/2007, Rs.241777.00 on 29/5/2008 and Rs.470072.50 on 11/11/2008. The builder introduced "Part Down Payment Plan" vide letter dtd. 9/12/2008, under which, rebate of 12% of basis sale price was offered. The builder, vide letter dtd. 26/6/2010, informed that in view of the provisions under Finance Act, 2010, "Service Tax" @2.5%, "Education Cess" @3% of basic sale price would be charged. 10% of basic sale price would be charged as Preferential Location Charges. The complainant opted for "Part Down Payment Plan" and inquired the amount to be deposited after adjusting 12% rebate. The builder, vide letter dtd. 3/6/2011, informed that total Rs.2240734.00 would be payable under "Part Down Payment Plan". The complainant, after taking loan from his employer, deposited Rs.20.00lacs on 3/6/2011 and Rs.240736.00 on 7/4/2012. The complainant wrote a letter dtd. 2/1/2014, for knowing the stage of construction and vide letter dtd. 4/1/2014, sought information regarding delivery of possession but no reply was given. The complainant visited the site and found that there was no progress in construction on the spot. Then this complaint was filed on 7/9/2015, alleging unfair trade practice, inasmuch as about 95% of basic sale price was realized till 7/4/2012 but the builder was not proceeding with the construction.