KARTAR SINGH KOCHHAR Vs. VATIKA LIMITED

JUDGEMENT

(1.) Sardar Kartar Singh Kochhar, the complainant, applied for allotment of an apartment in a residential complex, floated in the Name and Style of "Vatika City" in Sector 56, Gurgaon, Haryana, by Vatika Limited, the opposite party. The complainant paid advance an amount of Rs.13.00 lakh and the complainant was informed vide letter dated 29.4.2006 that his application had been accepted. The complainant was allotted Apartment No. 1/003, Ground Floor, Block Sovereign-1, a copy of the letter was placed before us as Exb.CW-1. The complainant signed the Apartment Buyer's Agreement dated 9.5.2006, the copy of which was placed on record as Exb.CW-2. The complainant obtained a home loan @10% floating rate of interest, from IDBI Bank Limited which was intimated to the opposite party. Subsequently, the complainant transferred the home loan from IDBI Bank Limited to Kotak Mahindra Bank Limited and accordingly the opposite party was again informed.

(2.) The complainant religiously paid the installments through its banker, total amount being Rs.1,24,71,624/- to the opposite party. At the time of purchase of the said apartment, the complainant was informed that possession of the apartment shall be handed over to the allottees within three years from the date of agreement but they failed to do the needful. The complainant was compelled to pay huge EMIs and interest to banks, without enjoying the property. Instead of giving the possession of the apartment to the complainant, the opposite party sent a notice dated 12.7.2011, threatening to terminate the Apartment Buyer's Agreement, which is totally illegal and against the settled principles of law. A copy of the order was attached with the complaint as Exb. CW-5.

(3.) Regarding agreement CW-2, dated 09.05.2006, it is stated that this is one sided agreement. In this agreement, the opposite party reserved its right to reject and refuse to execute the agreement wherein the intending allottee has made any corrections/cancellations/ alterations/modifications, and the such decision of the opposite party shall be final and unchallengeable. It is alleged that the complainant was compelled to sign it.