SHRIKANT UPADHYAY Vs. UNITECH LTD

JUDGEMENT

(1.) This order shall decide the above said four cases which are filed by eight different consumers named above, against the same builder and promoter, M/s. Unitech Ltd. & Ors. All the eight consumers have got the same interest, therefore, there lies no rub in passing the common judgment in these cases.

(2.) The facts of the case of Ravi Kumar Rajoria, Mr. Atul Malhotra and Mr. Pradeep Kumar Agrawal, in Complaint No.362 of 2014 are these. The above said three complainants have booked a residential flat, each, during the year 2011 with OP No.1 under its project, "Unitech South Park", Sector 70, Gurgaon, Haryana, under subvention scheme of Punjab National Bank Housing Finance Ltd-OP No.2, details of which are reproduced as follows:

(3.) As per clause 2(c) of the buyer's agreement, the entire payment was made by the complainants through the subvention scheme of OP No.2 i.e. Bank to the builder-OP No.1 in lumpsum in the year 2011 which payment otherwise should have been paid in instalments in phased manner for completing the project in time. The basic feature of subvention scheme was that it was containing zero EMI for first 24 months and thereafter, the flat buyer was to pay EMI which was to start somewhere in July-August, 2013 and within 12 months of starting EMI, possession of the flat was to be handed over by OP to the complainants so as to deliver the flats within a total period of 36 months from the date of signing of agreement as per clause 4(a) (1) of the buyer's agreement. All the complainants signed the agreement in 2011 and thereafter subvention period of 24 months has expired and EMIs amounting to Rs.62,000/- to Rs.80,000/- each, depending on the loan availed has also been paid to OP- bank but the project which should have been completed in 2014, is still at its initial stage and is not likely to be complete in time, soon.