LUCKNOW: The National Consumer Disputes Redressal Commission has ordered Parsvnath Developers to pay a monthly penalty to buyers for delay in handing over flats in Parsvnath Planet, a residential project in the city's Gomtinagar locality.
The builder will have to pay Rs 15,000 per month to complainants who had applied for flats up to 175 sq metres, while those who went for bigger flats will get Rs 20,000 every month, the commission ruled.
The order comes just a few months after the NCDRC had asked another builder, Unitech, to pay compensation at 12% per annum for delaying delivery of apartments to buyers in one of its projects in Gurgaon. In the Parsvnath case, the NCDRC observed that according to the agreement executed in 2006, the developer was to give possession of flats to allottees within 42 months, that is, in 2009-10. However, flats have not been handed over till now.
The penalty will be calculated from the 54th month after the execution of the flat buyer agreement till tLUCKNOW: The National Consumer Disputes Redressal Commission has ordered Parsvnath Developers to pay a monthly penalty to buyers for delay in handing over flats in Parsvnath Planet, a residential project in the city's Gomtinagar locality.
The builder will have to pay Rs 15,000 per month to complainants who had applied for flats up to 175 sq metres, while those who went for bigger flats will get Rs 20,000 every month, the commission ruled.
The order comes just a few months after the NCDRC had asked another builder, Unitech, to pay compensation at 12% per annum for delaying delivery of apartments to buyers in one of its projects in Gurgaon. In the Parsvnath case, the NCDRC observed that according to the agreement executed in 2006, the developer was to give possession of flats to allottees within 42 months, that is, in 2009-10. However, flats have not been handed over till now.
The penalty will be calculated from the 54th month after the execution of the flat buyer agreement till t
these penalties are levied despite the clauses being favorable to builders as usual. If there is any whats up group, lets join and start building pressure again its more than 6 years now.these penalties are levied despite the clauses being favorable to builders as usual. If there is any whats up group, lets join and start building pressure again its more than 6 years now.
