NCDRC has ordered Wave Group to refund Rs 64.2 lakh with 12% interest to buyer

NEW DELHI: Observing that a buyer cannot be made to wait indefinitely for a flat, the NCDRC has ordered Wave Group to refund Rs 64.2 lakh with 12% annual interest to a customer for the delayed period.

Nagpur-based Ramkrishna Sharad Parsodkar and his wife Smita had booked a flat in ‘Serviced Residences’ project in Wave City Centre in Sector 25A and 32, Noida, in November 2012. The builder had promised to hand over the flat within 48 months and there was another six months grace period, which ended in June 2016.

The Parsodkars told the commission that construction was nowhere near completion even after the deadline. The NCDRC turned down the builder’s argument that the buyer could not be treated as a consumer and that the contract said any dispute between the parties shall be adjudicated under the provision of the Arbitration and Conciliation Act.

It also rejected the builder’s claim that the buyer was entitled to get only compensation of Rs 7.5 per square feet per month and termed the contract condition as “unfair trade practice”.

“This complaint is allowed in part directing the developer to refund the principal amount with interest at 12% per annum from the respective date of deposit till the date of realisation together with cost of Rs 25,000,” an NCDRC bench of its president Justice RK Agrawal and member M Shreesha ordered on Friday.

The builder claimed the project got delayed due to a National Green Tribunal order that refrained all builders in Noida and Greater Noida from extracting ground water for construction, which impacted work for seven months in 2013 and another three months were wasted due to farmers’ protest. But the commission did not buy the arguments and noted that seven years had lapsed and the project was still not complete.

“In the instant case also, the complainants cannot be made to wait indefinitely for possession of the flat, as the construction is yet to be completed even after almost seven years from the date of booking. Therefore, we are of the considered view that the complainants are entitled for refund of the principal amount with reasonable interest,” the commission said.


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