H.K. NANDWANI Vs. PARSVNATH DEVELOPERS LIMITED

JUDGEMENT

(1.) One Mrs. Manju Puri, booked a residential flat with the OP in a project namely 'Parsvnath Exotica' which the OP was to develop in Sector-53 of Gurgaon. Flat No. D6-903 on the 9 th Floor in Tower D-6 of the project was allotted to her for a basic sale price of Rs.7,727,500/-. She then executed a Flat Buyer's Agreement with the OP on 05.05.2006, wherein respective rights and obligations of the parties in respect of the said allotment were recorded.

(2.) The said allotment was later acquired by Mr. Parag Mehta and Mr. Alok Mehta and was transferred in their name on 05.05.2006. Mr. Parag Mehta and Mr. Alok Mehta transferred the allotment in favour of one Mrs. Neelam Kumari and the said transfer was endorsed in her name on 02.09.2009. The complainants acquired the allotment from Mrs. Neelam Kumari and the said transfer was endorsed in their favour on 10.01.2011, on payment of the requisite transfer charges.

(3.) As per the payment plan agreed between the original allottee and the developer, the third installment was payable on the start of foundation. The statement of account filed by the complainants would show that the third installment became due on 20.12.2006, meaning thereby that at least the foundation had started by 20.12.2006. Therefore, as per the agreement between the original allottee and the OP, the construction ought to have been completed by 20.06.2010 when 42 months from the start of the foundation expired.