REENU KEDIA Vs. PARSVNATH HESSA DEVELOPERS PVT LTD

JUDGEMENT

(1.) Mr. Abhijit Malkani and Mrs. Simrin Malkani booked a residential flat in a project namely 'Parsvnath Exotica', which the parsvnath Developers Limited was seeking to develop in Sector 53 of Gurgaon and executed a flat-buyers agreement with the said company on 08.2.2010. Flat No. C-4-601 in Tower C-4 of the said project was allotted to them by Parsvnath Developers for a basic price of Rs.1,55,52,600/-. The said allotment was purchased by the complainants from Mr. Abhijit Malkani and Mrs. Simrin Malkani and was endorsed by Parsvnath Developers in their names on 06.5.2013. The learned counsel for the opposite party states that later on, Parsvnath Hessa Developers Pvt. Ltd. was incorporated as a SPV to complete the project in which the allotment was made and therefore, a tripartite agreement dated 26.4.2013 was executed between the complainants, Parsvnath Hessa Developers Pvt. Ltd. and HDFC Bank Ltd., in order to enable the complainants to take a loan for the said flat. The permission to mortgage the said flat was also issued by Parsvnath Hessa Developers Pvt. Ltd. to HDFC Ltd. vide letter dated 26.4.2013.

(2.) In terms of Clause 10(a) of the Flat Buyers Agreement executed between Parsvnath Developers Ltd. and predecessors in interest of the complainants, the construction of the flat was likely to be completed within a period of thirty-six months of the commencement of construction of the block in which the flat was located, though a grace period of six months was also available to the developer for the aforesaid purpose. The construction therefore, ought to have been completed by 8.8.2013, after giving benefit of grace period to the developer.

(3.) The grievance of the complainant in this consumer complaint was that the possession of the flat had not been delivered to them despite they/their predecessors in interest having paid Rs.1,59,00,867/- to the opposite party as against the agreed consideration of Rs.2,17,08,600/-. The complainants are therefore approached this Commission, seeking possession of the allotted flat, along with compensation etc.