Haryana RERA Orders Ramprastha Developers To Refund Homebuyer’s With Interest

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The National Consumer Disputes Redressal Commission (NCDRC) ordered Ramprastha to refund the entire amount paid by seven homebuyers, along with 12% interest.

Around eight years ago, the homebuyers paid Rs 70-80 lakh for flats in the SKYZ project, which is part of Ramprastha City in Sector 37D.

They are now expected to receive around Rs 1.2 crore each from the developer, who has been given four weeks to refund the amount.

Ramprastha City Welfare Association had previously approached the commission on behalf of seven buyers, seeking a refund because the project’s completion had been delayed for several years.

In 2008-09, Ramprastha launched the 450-acre megaproject in Sector 37D along the Dwarka Expressway. It has approximately 6,000 flats spread across six different projects.

Three of the projects were supposed to be completed by 2012, one by 2014, and the remaining two projects by 2015. However, the majority of projects are unfinished till date.

“According to the construction-linked plan, the builder takes around 90% of the payment from buyers by 2013, and the status is more or less the same till date,” said Pradip Rahi, a Ramprastha City resident and President of the welfare association.

The welfare association approached the commission on behalf of 400 homebuyers in 2015, but there had been no progress in the case, so the buyers became impatient.

A separate case was filed in 2017 in NCDRC on behalf of seven buyers of the SKYZ project, and the developer continued to delay the case for two years on various pretexts.

“Some of the buyers approached the Haryana Real Estate Regulatory Authority (HRERA), which the developer used to delay the court proceedings,” Rahi explained.

“We demanded 15% interest, but it was settled for 12% simple interest, which we accepted,” Rahi explained.

“This is good news for us because we won the case with 12% interest. I’m happy for our seven members who believed in the power of the people and joined the association to fight the case.

Source-ET

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