JATIN JAIN Vs. ADANI M2K PROJECTS LLP

JUDGEMENT

(1.) Heard Mr. Aditya Parolia, Advocate, for the complainant and Mr. Pravin Bahadur, Advocate, for the opposite parties.

(2.) Jatin Jain has filed above complaint for directing the opposite parties to (i) refund Rs.20797199.00 with interest @18% per annum from the date of respective deposit till its realization; (ii) pay Rs.500000.00, as compensation for mental agony and harassment; (iii) pay Rs.100000.00 as litigation costs; and (iv) any other relief which is deemed fit and proper in the facts and circumstances of the case.

(3.) The complainant stated that M/s. Adani M2K Projects LLP (opposite party-1) (the developer) was a limited liability partnership firm, constituted under Limited Liability Partnership Act, 2008 and M/s. Aakarshan Estate Private Limited (opposite party-2) was company, registered under the Companies Act, 1956 and the owner of the project land. The opposite parties were engaged in the business of development and construction of group housing project and selling its unit to the prospective buyers. The developer launched a group housing project, in the name of "Oyster Grande", at village Khedki Mazra, Sector-102-102-A, Off Dwarika Expressway, Gurgaon, in the year 2012 and made wide publicity of its facilities and amenities. The developer advertised that the project was luxurious township, excellent connectivity through NH-8 and Golf Course Extension Road/Dwarka Expressway, with unmatched comfort in terms of design, layout and amenities, ample natural light in apartment, ensuring healthy lifestyle, green view park and green area, 24 hours manned security on entrance gates, water supply through underground supply line and overhead tanks, storm water, drainage system, integrated with rain water harvesting, fire detection as per safety norms, etc. The representatives of the developer approached the complainant and reiterated the representations of the brochure. Believing upon the representations of the developer, the complainant booked a 4BHK + Powder room + Servant room on 18/10/2012 and deposited booking amount of Rs.1500000.00. The developer vide Provisional Allotment Letter dtd. 31/12/2012, allotted Apartment No.302 and executed Apartment Buyer's Agreement on 26/10/2013, of Apartment No.302, 'super area' 3198 sq.ft. and total consideration of Rs.21563946.00. By the time of agreement, the complainant had paid Rs.3623203.00. Payment plan was "construction link payment plan". In order to make timely payment of the instalment, the complainant took a loan of Rs.15379142.00, from Axis Bank, for which a tripartite agreement was executed on 5/5/2016. The complainant paid total Rs.20797199.00 till June, 2016. Article-5 of the agreement provides that the developer shall endeavour to complete construction within a period of 48 months from the date of execution of the agreement or from the date of commencement of the construction, whichever is later, with grace period of six months. As per statement of account, the date of start of construction was 15/2/2013 as such due date of possession would be counted from the date of agreement and expired on 25/10/2017 and grace period expired on 25/4/2018 but the construction was not completed. The complainant sought for refund of his money but the developer did not respond. The complaint was filed on 16/1/2019, alleging unfair trade practice and deficiency in service.