SORABH SOOD Vs. UNITECH LIMITED

JUDGEMENT

(1.) Saurabh Sood, the complainant herein booked a residential apartment no. 1101 on 11th floor Block No.3 in the development project Unitech South Park to be developed by the opposite party in Sector 70, Gurgaon. The parties entered into a Buyer's Agreement dated 16.07.2012. The consideration amount agreed for the subject apartment was Rs.83, 85, 8397-inclusive of basic price, external development charges, infrastructure development charges, club management registration preferential location charges and use of car parking space. As per clause 4.9 of the agreement, possession was supposed to be delivered by the opposite party within 36 months from the date of agreement subject to Force Majeure circumstances. The possession, therefore, was supposed to be delivered by 16.07.2015. The grievance of the complainant is that although he has paid almost entire consideration amount to the opposite party, the opposite party has failed to complete the construction of the project and deliver possession of the apartment. The complainant has thus raised the instant consumer dispute seeking refund of Rs.83, 32, 695/- paid to the opposite party against the agreed consideration with 18% interest thereon, besides compensation for mental agony and harassment and litigation charges.

(2.) The opposite party in its written statement has admitted Builder-Buyer agreement between the parties. It is also admitted that complainant has paid sum of Rs.83, 32, 295/-inclusive of Rs.67, 08, 671/- advanced by ICICI bank against the agreed consideration. It is pleaded that loan was advanced by ICICI bank under Tripartite Agreement. Therefore, ICICI bank being the beneficiary, is a necessary party to the present complaint. According to the opposite party, it has failed to observe the time schedule for construction and delivery of possession because of force majeure circumstances reproduced below:

(3.) There was slump in the real estate market, because of overall economic condi-tions, as a resultof which the supply of labour and raw-material became scarce