DHARAM BIR SETHI vs VATIKA LTD

ffiHARERA ffi cuRUcRAM Complaint no.

4930 of 2023 and 4 Others Member Page 1 of 31 BEFORE THE HARYANA REAL ESTATE REGULATORY AUTHORITY, GURUGRAM CORAM: Shri Ashok Sangwan Date of decision: Oq.OT2OZS Name of the Builder Vatika Limited Proiect Name "Vatika India Next City Centre" Situated at: Sector 83, Gurugram Sr.

No.

Case No.

Case title APPEARANCE 1. cRl4930/2023 Shriya Takkar, Advocate (Complainant) Ankur Berry, Advocate .. [Respondent) 2. cR/4931,/2023 Dharam Bir Sethi and Anita Sethi v/s Vatika Limited Shriya Takkar, Advocate IComplainant) Ankur Berry, Advocate IRespondent) 3. cR/4e32/2023 Dharam Bir Sethi and Anita Sethi Y/s Vatika Limited Shriya Takkar, Advocate (Complainant) Ankur Berry, Advocate IRespondent) 4. cR/4e34/2023 Dharam Bir Sethi and Anita Sethi Y/s Vatika Limited Shriya Takkar, Advocate (Complainant) Ankur Berry, Advocate (Respondent) 5. cR/4e35/2023 Dharam Bir Sethi and Anita Sethi Y/s Vatika Limited Shriya Takkar, Advocate (Complainant) Ankur Berry, Advocate (Respondent) ,/ Dharam Bir Sethi and Anita Sethi v/s Vatika Limited HARER& ffiGURUORAM ORDER This order shall dispose of all the 5 complaints titled as above, filed before this authority in Form CRA under Section 31 of the Real Estate [Regulation and DevelopmentJ Act, 201,6 (hereinafter referred as "the Act") read with Rule 28 of the Haryana Real Estate (Regulation and Development) Rules, 2017 (hereinafter referred as "the rules") for violation of Section 11( ) (a) of the Act wherein it is inter alia prescribed that the promoter shall be responsible for all its obligations, responsibilities and functionffib'ffid hllottees as per the agreement for sale executed inter se bet\deerupffis. ' "-.

The core issues emaqaffihg .them are'iimilar in nature and the complainant(s) in the above referred matters are allottees of the y, 'VATIKA INDIA NEXT CITY CENTRE' being developed by the same respondent.prbmdter i.e,, M/s Vatka Ltd.

The details of the cdmplalnts, rep$ to'status,unit no. s,unit no., date of agreement, and allotment, due date of possession, offer of possession and relief sought are given in the table below: 1..

Complaint no.

4930 of 2023 and 4 Others 2.

3.

Project Name and Location "India Next City Centre", Sector 83, Vatika India Next, Gurugram, Haryana.

Nature of the proiect Commercial complex Area of the project 10.72 acres DTCP License no.

122 of 2008 dated 14.06.2008 Valid up to 13.06.2018 RERA registered or not Not registered Possession clause 2 of BBA Clause 10 - Force Majeure ".,..,..Subject to the aforesaid and subiect to timely payment by the buyer of sale price, stamp duty and other charges due and payable according to the payment plan applicable to him or as demanded by the developer, the Developer contemplates to complete construction of the said Commercial Unit Page 2 of 31 HARERE ffiGURUGI?AM Complaint no.

4930 of 2023 and 4 Others ( within 48 months of execution of this Agreement." (Emphasis supplied) Assured return clause Clause 12.

Assured Return and Leasing Arrangement "Since the Buyer has paid the full basic sale consideration for the said Commercial Unit upon signing of this Agreement and has also requested for putting the same on lease in combination with other adjoining units/spaces of other owners after the said Building is ready for occupation and use, the Developer has agreed to pay Rs.

65 (Rupees Sixty-five only) per sq, ft. super area of the said Commercial Unit per month by way of assured return to the Buyer from the date of execution of this qgreement till the completion of constraction of the said Building.

The Buyer he.reby gives fult authority and powers to the :Develoiper to put the said Commercial Ilnit in combination with other adjoining commercial units of other owners, on lease, for and on behalf of the Buyer, as and when the said Building/ said Commerciql Unit is ready and fitfor occupation. ccupation.

The Byyer has clearly understood the general riiks involved in giving any premises on lease to third parties and has undertaken to bear the said risks exclusively without any liability whatsoever on the part of the Developer or the Confirming Party.

It is further agreed that: @ fhe Developer will pay to the Buyer Rs.

65 (Rupees Sixry-ftve ) per sq. fi. super area of the said Commercial Unit as committed return for upto three years from the date of completion of construction of the said Building ortillthe said Commercial Unitis put on lease, whichever is earlier.

After the said Commercial Unit is put on lease in the above manner, then payment of the aforesaid committed return will come to an end and the Buyer will start receiving lease rental in respect of the said Commercial Unit in accordance with the lease document as may be executed and as described hereinafter......." (Emphasis supplied) Page 3 of 31 HARERE W.* GURUGI?AM 0ccupation certificate Not obtained 0ffer of possession Not offered Complaint no.4930 of 2023 and 4 Others Sr.

Complaint No., Case Title, and Date of filing of comnlaint Unit no. and size Date of execution ofBBA Total Sale Consideration / Total Amount paid by the complainants Offer of possession/AR paid to complainant 1 cR/493012023 Dharam Bir Sethi Vs.

Vatika Ltd.

DOF:30.10.2023 Renlv:20.06.2024 307, Block D, 3,d floor measuring 500 sq. ft. (page 20 of complaintJ 23.08.2012 [page 18 of complaint) TSC- Rs.22,50,000/- (as per BBA at page 20 of complaint) AP- Rs.23,19,525/- [as per BBA at page 20 of complaint) Not Offered/ Rs.23,89,274 til| October, 2018 [As pleaded by respondent at page 9 of replyJ 2. cR/4931/2023 Dharam Bir Sethi Vs.

DOF:30.10.2023 Replv:20.06.2024 .i sq. ft.

20 of ) 304, Block D, 3'd floor measuring .:. i TSG.

Rs,22,50,000/- (ap per BBA at page 20 of complaint) ,525/- page20 Not Offered/ Rs.23,89,274 till October,201B [As pleaded by respondent at page 9 ofreply) 3. cR/4932/2023 Dharam Bir Sethi Vs.

Sethi Vs.

DOF:30.10.2023 Replv:20.06.2024 305, Block D, 3,d floor measuring 500 sq. ft. [page 20 of complaint) 23.08.20L2 [page 1B of complaintJ TSC- Rs.22,50,000/- (as per BBA at page 20 of complaintJ AP- Rs.23,19,525/- (as per BBA at page 20 of complaint) Not Offered/ Rs.23,89,274 till October,201B (As pleaded by respondent at page 9 ofreply) 4. cR./4934/2023 Dharam Bir Sethi Vs.

DOF:30.10.2023 Replv:20.06.2024 308, Block D, 3.d floor measuring 500 sq. ft. [page 20 of complaintJ 23.08.2072 (page 18 of complaint) TSC- Rs.22,50,000/- fas per BBA at page?O of complaint) AP- Rs.23,19,525/- [as per BBA at page 20 of complaint) Not Offered/ Rs.23,89,274 till October,2018 (As pleaded by respondent at page 9 ofreply) Page 4 of31 23,08.20L2 (page 18 of complaintJ ffiHARERA ffi-eunueRru Complaint no.

4930 of ?023 and 4 Others 5. cR/493r/2023 Dharam Bir Sethi Vs.

DOF:30.10.2023 ReoW220.06.2024 306, Block D, 3td floor measuring 500 sq. ft. (page 20 of complaint) 23.08.201.2 (page 18 of complaint) TSC- Rs.22,50,000/- fas per BBA at page2o of complaint) AP- Rs.23,19,5251- (as per BBA at page 20 of complaint) Not Offered/ Rs.23,89,274 till October,2018 (As pleaded by respondent at page 9 ofreply) The complainants in the above complaints have sought the following reliefs: L.

Direct the respondent to pay the delay penalty charges with interest as per the RERA Act, from the due date ofpossession.

2.

Direct the respondent to make payment on account of assured returns calculated @ Rs.65/- per sq, ft. per month on 500.$q-ft, i.e.., Rs.32,500/- per month w.e.f.

01.10.2078 till date [73 months) along with interest @ 18% on delay and further issue directions to the respondent to keep paying 1!!ired returns in terms of clause 12 of buyers agreement till completion ofthe p,t'oibct/receipt of OC and handing over of possession.

Direct the responde4.lrtq+a*$ay6ent.on account of assured returns calculated @ Rs.65/- per sq. ft pir onth on",50,Oisqi ft.'i. sqi ft.'i.e., Rs'.S2,500/- per month for a further period of three year$ (es per clause 12 of BBA) from completion of the project/receipt of OC along with interest @ 18% on delay, the exception being leasing it out only with the written cons€nt,of the,cornplainants to the terms and conditions of lease transaction with the proposed lessee.

4.

Direct the respondent to handover actual, physical, vacant possession of the 5.

6. commercial unit completed in all respects along with the grant of OC/CC.

Direct the respondent to execute the sale deed of the above said unit in favour of the complainant.

Allocate car parking space to the complainant in terms of letter dated 08.05.2012.

Note: In the table referred elaborated as follows: Abbreviation Full form above certain have been used.

They are DOF TSC AP AR Date of filing of complaint Total sale consideration Amount paid by the allottee/s Assured Return 4.

The facts of all the complaints filed by the complainants/ allottees are also similar.

Out of the above-mentioned cases, the particulars of lead case CR/4930/2023 titled as "Dharam Bir Sethi V/s Vatika Limited" are being taken into consideration for determining the rights of the allottees qua assured return, delay possession charges, physical possession and conveyance deed.

Page 5 of 31 { ffiHARERA ffieunuGRlM Unit and proiect related details The particulars of unit details, sale consideration, the amount paid by the complainants, date of proposed handing over the possession, date of buyer's agreement etc, have been detailed in the following tabular form: CR/4930/2023 titled as "Dharam Bir Sethi V/s Vatika Limited" Complaint no.

4930 of 2023 and 4 Others A.

5.

Sr.

Particulars Details 1.

Name of the project "Vatika India Next City Centre", Sector-83, Gurugram 2.

Proiect area 1,0.72 acres 3.

Tvpe of colonv Commercial Complex 4.

RERA registered/ not registered and validitf status Not Registered 5.

DTCP license no. and validity status t22 of 2008 dated 14.06. ted 14.06.2008 valid upto 13.06.2018 6.

Name of the Licensee M/s Trishul Industries 7.

Finally reallotted unit no. 'un[i[ no., i30z-' grd floor, Block D ;admeasr*rifiE 500 sq. ft. fPaee ?,0 of complaint) B.

Old Unit no.

Unit no.

547, sth floor, Block B ddmeaSUring 500 sq. ft. (Paee 40 of complaint) 9.

Date of execution of buyer's agreement [Old UnitJ 23.08.201.2 [Page 1-B of complaint) L0.

Letter for re-allocation of unit 3L.07.2A73 Allotment of New Unit (unilaterally as contended by complainant in para 7 of his pleadings at page 11 of complaint) fPaee 40 of complaint) 11.

Assured Returns clause Clause 72.

Assured Return and Leasing Arrangement "Since the Buyer hos paid the full basic sale consideration for the said Commercial Unit upon signing of this Agreement and has also requested for putting the same on lease in combination with other adioining Page 6 of 31 { ffiHARERA ffi cunuGRAM Complaint no.

4930 of 2023 and 4 Others units/spaces of other owners after the said I Building is ready for occupotion and use, the I Developer has agreed to pay Rs.

65 1 (Rupees Sixty-five only) per sq. fi. super area of the said Commercial Unit per month by way of assured return to the Buyer from the date of execution of this agreement till the completion of construction of the said Building.

The Buyer hereby gives full authority and powers to the Developer to put the said Commercial Unit in combination with other adioining commerciol units of other owners, on lease, for and on behalf of the Buyer, as and when AhF .$aid Building/ said Commercial Unit is ibq6y qnd fit for occupation.

The Buyer has :clearly .understood the general rrsks involved ii.giuing any premises on lease to third porties and has undertaken to bear the said risks exclusively without any liability whatsoever on the part of the Developer or I the Confirming Party.

It is further agreed I that: l1i1 fn" Developer will pay to the Buyer Rs.

I eS (Rupees Sixty-five ) per sq.ft. per sq.ft. super I area of the said Commercial Unit as I committed return for upto three years I from the date of completion of I construction of the said Building or till I tne said Commercial llnitis putonlease, I whichevier is earlier.

After the said I Commercial llnit is put on lease in the I above menner, then payment of the I aforesaid committed return will come to I on end and the Buyer will start receiving I lease rental in respect of the said I Commercial l,lnit in accordance with the I borc document as moy be executed and as I described hereinafter......." t ,r^Phasis suPPlied) I fPase 32 of complaintJ 1,2.

Possession clause Clause 70 - Force Maieure ".......Subject to the aforesaid and subiect to timely payment by the buyer of sale price, stamD dutv and other charges due and PageT of31 I ffiHARERA ffi eunucRAM Complaint no.

4930 of 2023 and 4 Others payable according to the payment plan applicable to him or as demanded by the developer, the Developer contemplates to complete construction of the sqid Commercial Unit within 48 months of execution of this Agreement." (Emphasis supplied) IBBA at page 31 of complaintl 13.

Due date of possession 23.08.2016 [Calculated to be 48 months from the date of execution of builder buyer agreement) t4.

Total sale consideration Rs.22,50,000/- IBBA at pase ?0 of complaint) 15.

Paid up amount Rs.

23,19,525/- [EtsA at page 20 of complaintJ 16.

E-mail sent by respondent to complainant confirming that pioject is ready and available for leasing 29.02.2016 (As pleaded by respondent at page 15 of reply) (Document not placed on record) 1,7.

Letter of ftompletioh of constructioB $ent by respondent 26.ffi.2AL8 (Page 63 of ieplyJ 18.

Assured returns paid by respondent to complainants Rs.2 3,89,27 4 / - till Octob er, 201,8 [As pleaded by respondent at page 9 of reply) 1,9.

E-mails sent by respondent to complainants regarding stoppage of assured returns 3 1.

1 0.2 0 18, 30.

1 1,.201,8, 28.1,2.

8, 28.1,2.201,8 [Page 51,52 and 55 of reply respectively) 20.

E-mail sent by respondent to complainants regarding reconciliation of accounts of the complainant 1,4.06.201,9 [Page L2 of written submissions filed by respondent) 21.

Legal notice sent by complainants to respondent for payment 28.08.201,9 (Page 4l of complaintJ Page I of 31 ,/ WHARERA ffi eunUGRAM Complaint no.

4930 of 2023 and 4 Others of pending assured returns 22.

Occupation certificate/ Completion certificate Not obtained B.

Facts of the complaint 6.

The complainants have made the following submissions in the complaint as well as rejoinder dated 1,5.10.2024: a) That the complainants are law-abiding citizens and permanent b) resident of Delhi.

He is the buyer/allottee of unit bearing no.

307D having 500 sq. ft., INXT City Centre situated in Sector-83, Gurugram, Haryana being developed by the respondent.

That sometime in 201,2, the respondent through their officials and representatives approached the complainants and offered to sell commercial units in the project, further on which they promised "guaranteed and assured return" on the money paid by the complainants upon them making a full consideration.

It was assured that the respondent shall allot commercial units to the complainants, immediately upon payment and pursuant to that, he shall pay monthly assured return to the complainants.

That as per the agreement, monthly assured return shall be paid to the complainants till the time the units are ready for possession and subsequently, for 3 years from the date of completion of the project and the receipt of completion certificate/occupation certificate for the project.

That the complainants were induced to part with his money and made a payment of Rs.23,19,525/- to the respondent towards the sale consideration of the unit.

The parties entered into a builder c) d) Page 9 of 31 ffiHARERa ffiGuRuortnril buyer agreement dated 23.08.20\2.

As per the agreement, the respondent had to pay assured return @ Rs. turn @ Rs.

65/ sq. ft. which would total to Rs.

32,500/- per month to the complainants till the completion of the construction of the project and subsequently, for 3 years after the completion of construction and receipt of the ccloc. e) That as per the agreed terms, a sum of Rs.

32,500/- was payable by the respondent to the cofn$jaina,1ts, every month for his unit.

The assured return was pai{ffiiiffiHff:spondent till September zot} where-after, it has beft elbfuprgly C'ibpped by the respondent from 01.10.2018 and nothing paid since then.

Further, the project is far from completion and no OC/CC is received till date despite the categorical assurance of the builder to complete the construction in a time bound manner.

That the complainants through their counsel sent a legal notice dated 28.08.2019 to the respondent.

However, despite duly receiving the legal notice the respondent did not pay any heed towards the same and did not reply, leave alone paying the due amount.

As per section 27 of the General Clauses Act, 1,897, a notice is deemed to be served/delivered when sent by registered speed post unless the contrary is proved by the addressee.

That despite the complainants numerous requests to the respondent to abide by the buyer's agreement, the respondent fails to give any sort of information / remit the assured returns to the complainants and/or complete the project or even give a firm commitment about the completion of the project. sl Complaint no.

4930 of 2023 and 4 Others ,/ Page 10 of 31 ffiI{ARERA fficuRuenArrl Complaint no.

4930 of 2023 and 4 Others h) That the complainants had filed the complaint under Section 31 of the RERA Act, 201,6, in luly z0zz for all the 5 units purchased admeasuring 2500 sq. ft., whereby the Hon'ble Tribunal gave liberty to the complainants to file separate complaint in respect of each of the unit allotted to the complainants. i) The cause of action in favour of the complainants arose- i. arose- i.

When the respondent failed to handover the possession of the commercial unit bearing no.

307D as per the date stipulated in the builder buyer agreement. ii.

When the respondent failed to make the payment of the assured return and despite the notice dated 28.08.2019 failed to honour his obligations and yet remains in default.

There is hence a continuing cause of action. iii.

When the respondent has till date failed to obtain CC/OC and to complete the project.

The cause of action again is continuing and the respondent has yet not been able to complete the project and provide the CC/OC. j) That an amount of Rs.23,89,270/- was paid as assured return to the complainants from August, 2012 till September, ZOIB.

C.

Relief sought by the complainants: 7.

The present complaint was filed by the complainants on 30.1,0.2023 seeking the following reliefs: L.

Direct the respondent to make payment on account of assured returns calculated @ Rs.6S/- per sq. ft. per month on 500 sq. ft. i.e., Rs.32,500/_ per month w.e..f.

01.10.2018 till date (59 months) on 500 sq. ft. i.e., Rs,19,L7,500/- along with interest @ 1B0/o on delay.

Direct the respondent to make payment on account of assured returns calculated @ Rs.65/- per sq. ft. per month on s00 sq. ft. i.e., Rs.3z,s00/- per month w.e.f.

01.09.2023 till the completion of the project and receipt of Page 11 of31 / ffii{ARERA ffieunuenntrlt 3.

Direct the the commerespondent fu handouer_actuar, physicar, vacant possession of the grant;;;;;:.'bearing no' 307D' 'o^p'rriri in au respects atons with 4.

Direct the - favour rttor:":;:;:;to execute the sate deed of the above said unit in S.

Direct the r the RERA ^;::;;ff ,,;ny#:i;{:;:ijf, ,o"n" with interest as per Th ereafter, th e co mpr ai nrnt, t ra"'Ri;"::,:: ^ r i na +i ^ - r _ relief dated 7s.lo.2o?? r^,h^*.^]*1. ;i,1" . -rr"vslr,rr rt.,r am€Dclllent of may be read,, "1;iT,1 il,$l.- #;TH::.TJffI1,,,,,.

Complaint no. plaint no.

4930 of 2023 and 4 Others ---_- t;iff':: ff;after' for a period of 3 vears from then, atons witn inrcrest 1.

Direct the respondent b make .^ _ catcutated , *:u:_t:;;;; ;;:{;7,';::?;;:' or assured returns p e r m o n t h w. e.f, 0 1 .

1 0.

2 0 1 I i, t i a o r, f r, ^ r, i;; ;i ":, i ;; f i ri? rlri! r; 18% on delay and further issue directions to the paying assured returns in trrm,, of c-lause ,, ;r,;;;::::::::;:rfrr:i, , ;ili:r':;Zrr:{*, proiect/receipt of oc ona non'aing over of possession. catcutated;'i:':,i';::;tr:r,::,:';::;;;:irl,";i:;*if; per month for a further period'of three yer;, @;;, chuse 12 0f BBA) from completion of the propr)irrript of ic"rirri *,ro interest @ L'ok 'Jlf!;',1i,?;::,';:::i:;: :::;* it out onrv wi,n the wri,,en ,",,,,", with the pr:oposed lessee. s and conditions of lease trrrrrr6o,, 3.

Direct the respondent to handover actual, physical, vc '::, ; i#T:;:;:, ; ;' i /; ;,,, n, o, 0,,,, o, ^ p r,,, i ; : :T : :;: : ; : : ; :[ r i;::::,':;;Z'::;or:,::,':,execute the sate deed orthe above said unit in 5' Direct the respondent tu pay the deray-penarty charges with interest as per the RERA Act, from the due darte of possession.

6' Allocate car parking space * ;; comprainant at the rate that was prevalent at the time of execution of buyer,s agreement.

7.

Award compensoilon to the ,*rrlr"3''o,: :::::::, ^:;;'::::,:x*y:::;:;l;,;;;i'l,i!ff ;'!;',i;!f ,7;,::,:';:::;.:l B' Award ritigation costs to the tune of Rs.2,00,000/- to the comprainants.,, Page 12 of31 B.

I-IARER& W.* GUI?UGRAM I.

A reply to the said application has been filed by respondent on 13.12.2024.

After hearing both the parties at length, vide proceedings dated 05.02.2025 the application for amendment in relief dated 1,5.10.2023 was allowed to the extent of relief no.

1 to 6.

Accordingly, the Authority is proceeding against the said relief[s) sought by the complainants, as under: Direct the respondent to make payment on account of assured returns calculated @ Rs. ated @ Rs.65/- per sq. ft. per month on 500 sq. ft. i.e., Rs.32,soo/- per month w.e.f.

01.10.2018 till date (73 monthsJ along with inreresr @ IBo/o on delay and further issue directions to the respondent to keep paying assured returns in terms of clause 12 of buyers agreement till completion of the project/receipt of OC and handing over of possession.

Direct the respondent to make payment on account of assured returns calculated @ Rs.65/-per sq. ft. per month on 500 sq. ft. i.e., Rs.32,500/- per month for a further period of three years [as per clause IZ of BBA) from completion of the project/receipt of 0C along with interest @ L80/o on delay, the exception being leasing it out only with the written consent of the complainants to the terms and conditions of lease transaction with the proposed lessee.

Direct the respondent to pay the delay penalty charges with interest as per the RERA Act, from the due date of possession.

Direct the respondent to handover actual, physical, vacant possession of the commercial unit completed in all respects along with the grant of oc/cc.

Direct the respondent to execute the sale deed of the above said unit in favour of the complainants.

4930 of 2023 and 4 Others II.

III.

IV.

V.

Page 13 of31 1/ ffiI{ARER# ffi cuRuenAM Complaint no.

4930 of 2023 and 4 Others VI.

Allocate car parking space to the complainants at the rate that was prevalent at the time of execution of buyer's agreement.

9' On the date of hearing, the authority explained to the respondent /promoter about the contraventions as alleged to have been committed in relation to Section L1(+) (al of the Act to plead guilty or nor to plead guilty.

D.

Reply by the respondent 10.

The respondent contested the complaint on the following grounds: a) That the respondent issued communication to all its allottees of the project "INXT City Centre" from company e-mail id noreply@salesforce. alesforce.com and noreply@-vatikagroupeem regarding committed returns/assured returns suspension vide e-mail dated 31.10.2018.

The respondent issued second communication to all allottees, through e-mail dated 30.11.2018 detailing therein the amendments in law regarding the SEBI Act, Bill No.

B5 (Regarding the BUDS Act) and other statutory changes which led to stoppage of all the return based/ assured / committed return based sales and the respondent's proposal to reconcile accounts as of )u|y,2019.

The respondent issued third e-mail to all the allottees on 28.1,2.2018 regarding stoppage of assured rentals and reconciliation of all dues by fune, 201,9 and issued communication regarding addendum agreement containing revised clauses excluding assured return/committed return clause alternatively giving option to allottees to shift to another project. b) That the respondent on 14.06,2019, issued update to all its allottees regarding reconciliation of accounts as of 30.06.2019 and issuance Page 14 of31 1/ ffiinRERA ffi e0ftuennru,l ffi ::"::1,1::::r,rg the assured returns rhe arrottees who chose to ,r;;;;;;,;, and were refunded investments.

Thus, the respondent admittedry paid assured returns from the date of execution of BBA till Septemb er,2018 and at the time of stoppage of assured returns in september 2018, the respondent provided timery deta,ed communication to all iF'pl.Lp in the 0."r.., however the be arowed the .;,;';::;:f*"rthis compraint and now cannot cl That the issue regarding jurisdiction over compraint pertaining to assured return is pending before various courts and Tribunars. one of such matters pertaining to the question of law ,,whether the authorities or tribunar can grant rerief of assured return after the commencement of BuDs Act,' is pending before the Hon,bre punjab and Haryana High court.

In the nrn.t, i putitions tagged with the matter of 'vatika Limited vs. union or rnai, and Anr., in cwp No. in cwp No.

26740 of 2022, the Hon'bre High court at punjab and Haryana has restrained the respondents therein from taking any coercive steps in criminar cases registered against the respondent herein, for seeking recovery of assured return ti, next date of hearing. dl That rhe Uttar pradesh Rear Esrare Apperare Tribunar [upREAT) whire adjudicating an appear titred as ,,Meena Gupta vs. one prace Infrastructures pvt.

Ltd. fAppear No.

21 1 0f 2022)" has herd that the issue of Assured Return does not fa, within the ambit of the Act of 2016 and dismissed rhe appear fired by the Apperant/Arottee.

4930 of 2023 and 4 Others Page 15 of31 HARERE ffi OUI?UGRAM Further the RERA Authority of punjab while adjudicating upon the similar issue of assured return had taken a similar view by observing that the said issue is out of the purview of the Real Estate [Regulation and DevelopmentJ Act of 2016.

In the matter of 'Lalita chauhan vs.

Gupta Builders and promoter pvt.

Ltd., the punjab Real Estate Regulatory Authority evidently held that the concept of Assured Return has no prace in the Real Estate fRegulation and Development) Act of 201.6.

That the objective of the Act of 2016 is to regulate the real estate sector in terms of the development of the project in accordance with the law and to provide rerief of interest, compensation or refund to the allottees in case of violation of the provisions of the Act of 2016.

The objective of the Act of 2016 is very clear to regulate the Real Estate sector and form balance amongst the promoter, Allottee and Real Estate Agent.

However, the entire Act of 2016 nowhere provides any provision to regurate the commercial understanding regarding returns on investment or lease rentals between the promoter and the buyer.

That the Act 2016 provides for three kinds of remedies available to the complainant in the case of any dispute arisen between a promoter and buyer with respect to the development of the project. e project.

Such remedy is provided under section 1B of the RERA Act,2016 for violation of any provision of the act.

The said remeclies are of "Refund" in case the allottee wants to withdraw from the project and the other being "interest for delay of every month,, in case the allottee wants to continue in the project and the last one is for Complaint no.

4930 of 2OZ3 and 4 Others e) sl Page 16 of31 ffiHARERA #-GuRuenArvt "compensation" for the loss occurred to the allottee, if any, However, nowhere in the said provision the Authority has been empowered with the jurisdiction to grant assured returns or any other arrangement between the parties with respect to investment and returns.

That the true nature of the relief sought is kind of specific performance of the assured returns commitment.

The relief of specific performance flows from the Specific Relief Act, 1963 and no part of the Real Estate (Regulation and Development) Act, 201.6 clothes this Authority to exercise powers under specific Relief Act, 1,963.

Thus, this Authority not being a civil court could not assert to itself the jurisdiction to grant specific performance of the ,,Assured Returns" which is a relief under the Specific performance Act, 1963. while exercising its jurisdiction, the.

Authority should grant due consideration to the principle of law laid down in commissioner of Income Tax, Mumbai v.

Anjum M.H.

Ghaswala and ors., AIR 2001 sc 3868 by a constitution bench of the Hon'ble supreme court of India that "lt is a normal rule of construction that when a statute vests certain power in an authority to be exercised in a particular manner then the said authority has to exercise it only in the manner provided in the statute itself.,' That it is matter of record that there was no possession crause within the BBA. only constructive possession of the subject unit was to be delivered. delivered. since the respondent/promoter is still using complainant's money and occupation certificate has not been obtained till date, therefore, to safeguard the interests of the Complaint no.

4930 of ZOZ3 and 4 Others h) PagelT of31 ^r/ I-IARERA GUI?UGRAM allottees, the complainant may at best be allowed delay possession charges at the prescribed rates from due date of possession till receipt of occupation certificate plus two months as per section 13[1) of the Act of 2016 after adjustment of assured returns.

Therefore, considering the facts of the present case, and to ensure no prejudice is suffered by the complainants, the respondent may be directed to pay the amount of delayed possession charges at the prescribed rate for every month of delay till offer of possession plus two months, as per section 1B[1J of the Act of 201,6 read with rule 15 of the Rules, after deducting the amount of assured returns already paid till September, ZOIB. with regard to issue of physical possession, the agreed BBA between the complainant and the respondent shows that the unit allotted to the complainant was not intended to be handed over to the complainant since it was a part of bigger floor plate and to be leased out to third parties together with such similar other units in that floor.

The complainant was well aware of the fact, that the commercial unit in question was deemed to be leased out upon completion and the same was evidently mentioned and agreed by the complainant in the agreement.

That it is admitted fact that oc in respect of the project where the subject unit is situated has not been obtained by the promoter till date.

As on date, the conveyance deed cannot be executed in respect of the subject unit, however the respondent is contractually and legally obligated to execute the conveyance deed upon receipt of the occupation certificate from the competent authority.

Thus, the relief Complaint no. plaint no.

4930 of 2023 and 4 Others i) k) r) Page 18 of 31 4/ ffi ffi win qcd HARERA GUl?UGl?AM regarding execution of the conveyance deed of the allotted unit is premature and complainant's right to execution of conveyance deed would arise only after receipt of OC from the statutory authority.

1I.

Copies of all the relevant documents have been filed and placed on the record' Their authenticity is not in dispute.

Hence, the complaint can be decided on the basis of those undisputed documents and submissions made by the parties.

E. |urisdiction of the authority 12' The authority observes that it has territorial as well as subject matter jurisdiction to adjudicate the present complaint for the reasons given below.

E.

I Territorial jurisdiction 13.

As per notification no.

1/92/2017-LTCP dared 14.12.2017 issued by Town and Country Planning Department, Haryana, the jurisdiction of Haryana Real Estate Regulatory Authority, Gurugram shall be entire Gurugram district for all purposes.

In the present case, the project in question is situated within the planning area of Gurugram district. lherefore, this authority has complete territorial jurisdiction to deal with the present complaint.

II Subject-matter jurisdiction 1,4.

Section 1l(4) [a) of the Act, 201,6 provides that the promoter shall be responsible to the allottees as per agreement for sale.

Section 11(a.) (a) is reproduced as hereunder: "Section 11@) (a) Be responsible for all obligations, responsibilities and functions under the provisions of this Act or the rules and regulations made thereuncler or to the allottees as per the agreement for sale, or to the association of allottees, as the case may be, till the conveyance of all the apartments, plots or buildings, Complaint no.

4930 of 2023 and 4 Others Page 19 of 31 ,/ ffiHARERA ffieunilGttAM Complaint no. plaint no.

4930 of Z0Z3 and 4 Others as the case may be, to the ollottees, or the common areas to the association of allottees or the competent authority, as the cose may be.

Section 34-Functions of the Authority: 34A to ensure compliance of the obtigations cast upon the promoters, the allottees and the real estate agents under this Act and the rules and reg u lations ma d e thereun der.,, 15' So, in view of the provisions of the Act quoted above, the authority has complete jurisdiction to decide the complaint regarding non-compliance of obligations by the promoter leaving aside compensation which is to be decided by the adjudicating officer if pursued by the complainant(s) at a later stage.

F.

Findings on the obiections raised by the respondent F'I' Pendency of petition before Hon'ble Punjab and Haryana High court regarding assured return 16' The respondent has raised an objection that the Hon'ble High Court of Punjab & Haryana in CWP No.26740 of ZO22titled as "Vatika Limited Vs.

Union of India & ors.", took the cognizance in respect of Banning of Unregulated Deposits Schemes Act, 201,9 and restrained the Union of India and the State of Haryana from taking coercive steps in criminal cases registered against the company for seeking recovery against deposits till the next date of hearing.

L7 ' With respect to the aforesaid contention, the authority place reliance on order dated 22.1,1,.2023 in cwp No.267 40 of 2022 (supra), whereby the Hon'ble Punjab and Haryana High court has stated that- ".'.ther.e is no stay on adjudication on the pending civir appeals/petitions before the Real Estate Regulatory Authirity as also against the investigating agencies and-they aie at liberty to proceed further in the ongoing matters that are pending with them.

There is no scope for any further clarification.,, Thus, in view of the above, the authority has decided to proceed further with the present matter. nt matter.

Page 20 of31 HARER& ffi GUI?UOI?AM Findings on the relief sought by the complainants: G.I Direct the respondent to make payment on account of assured returns calculated @ Rs.65 /- per sq. ft. per month on s00 sq. ft. i.e., Rs.32,500 /- per month w.e.f.

01.10.2018 till date (73 months) along with interest @ l9o/o on delay and further issue directions to the respondent to keep paying assured returns in terms of clause LZ of buyers agreement till completion of the proiect/receipt of OC and handing over of possession.

G.II Direct the respondent to make payment on account of assured returns calculated @ Rs.6s/- per sq. ft. per month on s00 sq. ft. i.e., Rs.32,500 /- per month for a further period of three years (as per clause 12 of BBA) fromicompletion of the proiect/receipt of oc along with interest @ L$olo on delay, the exception being leasing it out only with the written c0nsdnt of the complainants to the terms and conditions of lease transaction with the proposed lessee.

G.lll Direct the respondent to pay the delay penalty charges with interest as per the RERA Act, from the due date of possession.

The common issues with regard to assured return and delay possession charges are involved in the aforesaid complaint.

I.

Assured Returns l The complainants are seeking unpaid assured returns on monthly basis as per the builder buyer agreement dated z3.o}.zo1,z at the rates ',a mentioned thereiE;"It.js pioraua that the respondent has not complied with the terms and condition, ortnu said addendum agreement.

Though for some time, the amount of assured returns was paid but later on, the respondent refused to pay the same by taking a plea that the same is not payable in view of enactment of the Banning of Unregulated Deposit Schemes Act,2019 fhereinafter referred to as the Act of 2019), citing earlier decision of the authority (Brhimjeet & Anr. vs.

M/s Landmark Apartments Pvt.

Ltd.

Pvt.

Ltd., complaint no 1,41, of zol8J whereby relief of assured return was declined by the authority.

The authority has rejected Complaint no.

4930 of Z0Z3 and 4 Others G.

18.

19.

Page 21of 31 'l/ HARER& ffi OURUGI?AM the aforesaid objections raised by the respondent in cR/s001/z0z| titled as Gaurav Kaushik and anr.

Vs.

Vatika Ltd. wherein the authority has held that when payment of assured returns is part and parcel of builder buyer's agreement fmaybe there is a clause in that document or by way of addendum, memorandum of understanding or terms and conditions of the allotment of a unitJ, then the builder is liable to pay that amount as agreed upon and the Act of 201,9 does not create a bar for payment of assured returns even after coming into operation as the payments made in this .ugr.dffir,b:tectea as per section z(4)(l)[iiiJ of the Act of 2019.

Thus, rft olgi-^danced by the respondenr is not "J sustainable in view eflqhc' f lei$idtuas;;nffiand case cited above.

The money was taxen uy ttru'fitid[i ,ilorit in advance against allotment of immov.qble plope.tylila its poisassion was to be offered within a certain pdriod.

However, in view of taking sale consideration by way of advance, thd builder. prbmised certain amount by way of assured returns for a certain period.

So, on his failure to fulfil that commitment, the complainant-allottees have,i right to approach the authority for redressal of his g.r,.g"4h.giluy..*ay o{filing a complaint.

The builder is liabTa tJ ;ffiSi rrnount rs rg.u"l ,oon and can,t take a plea that it is not iia'bfe to pay the arnouni'of assured return.

Moreover, an agreement defines the builder/buyer relationship.

So, it can be said that the agreement for assured returns between the promoter and allotee arises out of the same relationship and is marked by the original agreement for sale. for sale.

It is not disputed that the respondent is a real estate developer, and it had not obtained registration under the Act of 2016 for the project in Complaint no.

4930 of 2023 and 4 Others 20.

21,.

22.

Page 22 of 31 1/ ilARERE W* GURUGI?AM question.

However, the project in which the advance has been received by the developer from the allottees is an ongoing project as per section 3[1) of the Act of 2076 and, the same would fall within the jurisdiction of the authority for giving the desired relief to the complainant besides initiating penal proceedings.

So, the amount paid by the complainants to the builder is a regulated deposit accepted by the later from the former against the immovable property,.lo b. transferred to the allottee later on.

In view of the above, the respondenit isliable to pay assured return to the complainant-allottees in terqls,rof thg builder buyer agreement dated 23.08.201.2.

Provided thatwhere an allottee does not intend to withdraw from the project, he shall be paid, by the promoter, interest for every month of delay, till the handing over of the possession, at such rate as may be prescribed" A builder buyer agreement executed between the parties and the due date of completion of the project is calculated as per clause 10 of BBA i.e., 48 months from the date of execution of this agreement.

The relevant clause is reproduced below: Clause 70 - Force Majeure ".......Subject to the aforesaid and subject to timely payment by the buyer of sale price, stamp duty and other charges due and payabre Page 23 of 31 Complaint no.4930 of 2023 and 4 Others G.II.

Delayed possession charges 23.

In the present complaint, the complainants intends to continue with the project and are seeking possession of the subject unit and delay possession charges as provided under the provisions of Section 1B[1) of the Act which reads as under: "Section 78: - Return of amount and compensation 1B(1). ion 1B(1).

If the promoter fails to complete or is unable to give possession of an apartment, plot, or building, 24. ffi ffi rsiq urd uum OUl?UGI?AI\4 :;"T:::',";::;:,;::;i::::"Ii!I:!i:::himorasn**il, the developer, the L -"- r'q" ultprt,Qot€ to him or as demanded by or t h e s a i d c o m m, : : ;:i :,:: :,:,? ::: : : ! t e s t o _c o m p ii,^, ",,,, u c t i o n "{;::;;::"b,^^,,,i,,i;;;;;;;;;;;:::i;:;:::';:,;::::;i;; Agreement.,, 2s' Admissib,itv of derav possession charg"j?li:: :yr{:;rrate of interest; The comprainants are seeking deray possession charges.

Proviso to Section 1B provides that where an ailottee does not intend to withdraw from the project, he shail be paid, by the promoter, interest for every month of delay, till the handing over of possession, at such rate as may be prescribed and it has been p.ur..ib"d under Rure 15 0f the Rures, ibid.

Rule 15 has been reproduced as under: "Rure 75' prescribed rate of interest;-lprwiso to section 72, section 1"8_and ,ri-r"riror" foj ono ,"rii";;;, U) of F^- L'' section 791 ;;';T;;f :;::{:::.,i;:;::;::;:,?::ir::::;::,::,i:,:;:,:;:;, u.i:;,' state Bank of rndia o,norri"irsinar cost of tendins rate provided that in case the State Bank of In,t;n h^v^: ';::;*::;i,#::l,,i.ii,i'-,:i',::L';o;:ffi:::,;;"":{ tnchmark lending rqtes which the State time tu ilme for,"jiT.i,:::"'n'rt?te Bank of tndia mayfixfrom 26rheregisr:;::i:::f;,ff ,::y,I'::{tr:,:;::,;^^-*,:";,,.:ronunderthe Rule 15 of the Rules' ibid has determined the prescribed rate of interest. consequentry, as per website of the state Bank of India i.e., https: hi'co'in' the marginar cost of lending rate [in shor!

M.LRJ as on date i.e., 09.07.2025 is g.lOo/0.

Accordingry, the prescribed rate of interest will be marginal cost of lending rdte +)o7oi.e., 1 1.1,00/0.

27 ' on consideration of documents availabre on record and submissions made by the complainants and the responden! the authority is satisfied that the respondent is in contravention of the provisions of the ac of the act. the Page 24 of 3l Complaint no. +g30 of 2023 and 4 Others tl 28. ffi ffi (ois 6(A GURUGRAM HARERA Complaint no.

4930 of 2023 and 4 Others By way of assured return, the promoter has promised that the allottee would be entitled for the specific amount of assured return till the said unit is put on lease and thereafter he shall be entitled for lease rental as agreed' The purpose of delayed possession charges under Section 1g of PageZS of31 construction of the project was to be completed within a stipulated time i.e., by 23.08.201,6.

However now, the proposition before it is as to whether the allottee who is getting/entitled for assured return even after expiry of due date of possession, can claim both the assured return as well as delayed possession charges?

To answer the above proposition, it is worthwhile to consider that the assured return is payable to the allottees on account of provisions in the buyer's agreement dated 23.o}.zo1z.

The assured return in this case is payable as per clause 1,2 of the "builder buyer agreement,, wherein the promoter had agreed to pay to the complainant-allottee t65/- per sq. ft. on monthly basis till the completion of construction of the building and <65 /- per sq. ft. on monthly basis after the completion of the building.

If we compare this assured return with delayed possession charges payable under proviso to Section 1B(1) of the Act, 2016, the assured return is much better as is encapsulated in the following table for all the complaints: 29.

30.

Assured return payrUte pe, month as per addendurr agreement D6'lay possession .t aE* pay.able per month as per the RERA Act 1.. cR/4e30/2023 <32,500/- <2L,456/- 2. cR/4931./2023 <32,500/- <2t,456/- 3. cR/4e32/2023 <32,500/- <2L,456/- 4. cR/4e34/2023 <32,500/- <2L,456/- 5.

L,456/- 5. cR/4e35/2023 <32,500/- <21,456/- v ffiHARERA ffieUnGnnm the Act after due date of completion of project is served on payment of assured return' The same is to safeguard the interest of the allottees as their money is continued to be used by the promoter even after the promised due date and in return, they are to be paid either the assured return or delayed possession charges, whichever is higher.

Accordingly, the authority decides that in cases where assured return is reasonable and comparable with the delayed possession charges under Section 18 and assured return is payable even after due date of possession, then the allottees shall be entitled to assured return or delayed possession charges, whichever is higher without prejudice to any other remedy including compensation. on consideration of the documents available on the record and submissions made by the parties, the complainants have sought the amount of unpaid amount of assured return as per the terms of BBA along with interest on such unpaid assured return.

As per the builder buyer agreement dated 23.o}.zot2, thepromoter had agreed to pay to the complainant-allottee <6s/- per sq. ft. on monthly basis till completion of construction of the building and <6s/- per sq. ft. on monthly basis after the completion of the building.

It is matter of record that the amount of assured return was paid by the respondent promoter till september 20lB but rater on, the respondent refused to pay the same by taking a plea of enactment of Act of zolg.

However, the Act of z01g does not create a bar for payment of assured returns even after coming into operation and the payments made in this regard are protected as per Secti on 2(4)[iiiJ of the above-mentioned Act.

31.

32.

4930 of Z0Z3 and 4 Others Page 26 of 31 ffiSqRERA ffi GURUGRAM " ;::1# "::,:::1*, not been received by rhe prornoter tirr this 34. ffi;;.

34. ffi;;.ffiff:#,rj: the stage of offer of possession by respondent is not dependent upon the receipt of occupation certificate.

However, the Authority is of the view that the construction cannot be deemed to comprete unfir the oc/cc is obtained from the concerned authority by the respondent promoter for the said project.

Admiftedry, the ."ro*o.nt has paid an amount of <23,89,274/- tothe comprainants r, ,r;;;rerurn ti, seprember 2or..

Therefore, considering the facts ,f ,h. ;;.r"r, case, the respondent is directed to pay the amount of assured ;; R s' 6 5 / - p e r s q . rt. p e r m o n th rr" * ;; ;, ;;il ;;:: ffi ,, li.T ;, ;.? has not been made i.e. from october Zo*Bti, date of compretion of construction of bu,ding fpost receipt of occupation certificateJ and thereafter' Rs' 65 /-per sq' ft. per rnonth as minimum guaranteed return up to 36 months from the date of receipt of occupation certificate after the compretion of the said buirding or titt ttr. orru the said unit is put on Iease' whichever is earrier.

Further, the Authority decrines to order payment of any amount on a( their inrerest has nu., ;;..Jr r"J :..ff:J:::,'.::,.:r;:,,i; compretion of construction of the unit and thereafter arso up to 36 months at different rate from date of compretion of the said buirding or the said unit is put on lease, whichever is earlier.

Accordingly' the respondent is obligated to pay the outstanding accrued assured return amount ti, date at the agreed rate within g0 days from the date of this order after adjustment of outstanding dues, if any, from Complaint no.

4930 of 2023 and 4 Others Page ZZ of31 35. ffiHARERA ffieunuennrrl 36. the complainants and failing which that amount would be payable with interest @ 9.100/o p.a. till the date of actual realization.

G.IV Direct the respondent to handover actual, physical, vacant possession of the commercial unit bearing no.

213E, completed in all respects along with the grant of OC/CC. of OC/CC.

It is important to note that the complainants have failed to put forth any document to show that the said builder buyer agreement was executed under coercion.

Also, no objection/protest whatsoever was made by the complainants at any point of time since the execution of the builder buyer agreement.

Accordingly, in view of clause 1,2 of the BBA, handing over the physical possession was never the intent of the respondent rather the unit was to be leased out.

The authority observes that the respondent is obligated to handover the possession of the unit to the complainants in terms of the buyer,s agreement dated 23.08.201,2, after obtaining of occupation certificate from the competent authority under Section 11(4)[b) read with Section 17 of the Act, 201,6.

G'V Direct the respondent to execute the sale deed of the above said unit in favour of the complainants.

Section 17(1) of the Act dears with duties of promoter to get the conveyance deed executed and the same is reproduced below: "77.

Transfer of title.- ft). rhe promoter shall execute a registered conveyance deed in favor of the allottee along with the undivided proportionate title in the common oreas to the association of the allottees or the competent authorily, as the case may be, and hand over the physical possession of the plot, apartment of building, as the case may'be, to the allottees and the common areas to the association of the allottees or the competent authority, as the case may be, in i real estate project, and the other title documents pertaining thereto within specified period as per sanctioned plans as provided under the local laws: Complaint no.

4930 of 2023 and 4 Others 37.

Page 28 of 31 ffiHARERA fficllRl;ctlAM Complaint no.

4930 of 2023 and 4 Others ,,r,,!"i"',f if ,'2?l;1,i,'!'"y;;::,:::,y,,'::' jf ,y;,:f ;y:;,:!1;i competent authority, as the case may be, under this section shall be carried gut by the promoter within three months from date of issue of occupancy certificate. rtificate.,, 38' The authority observes that oc in respect of the project where the subject unit is situated has not been obtained by the respondent promoter till date.

As on date, conveyance deed cannot be executed in respect of the subject unit, however, the respondent promoter is contractually and legally obligated to execute the conveyance deed upon receipt of the occupation certificate/completion certificate from the competent authority.

In view of above, the respondent shall execute the conveyance deed of the allotted unit within 3 months after the receipt of the oC from the concerned authority and upon payment of requisite stamp duty by the complainants as per norms of the state government.

G'vI Allocate car parking space to the complainant at the rate which was prevalent at the time of execution of buyer,s agreement.

39' The Authority is of the considered view that since the buyer's agreement contains no clause regarding car parking, and there is no evidence of any representation or commitment made by the respondent, the Authority finds no legal or contractualbasis to direct allotment of car parking space at any rate to the complainants.

Therefore, the said relief sought by the complainants is declined.

H.

Directions of the authority 40' Hence, the authority hereby passes this order and issues the following directions under Section 37 of the Act to ensure compliance of obligations cast upon the promoter as per the function entrusted to the authoriry under Section 3a$): Page 29 of 31 ^t ffirffiffi ff ::::: :Ti.#:fiT,:, :: ffi ; ffilTj:Tili; cornprerion or,n.;;;,; :::,::" nrst 36 rnonths arter the buyer,s ag ever is earlier in terms of the II.

The responrp,.r ,^ ll"-'<s'ua'20L2' I.

The respondent is directed r ano 4 others return at the :i:l: l:":", to pav,nu,,F the date,h. ;:,;".:i x:, 3 u,u rl o u,;ril":;:H:I cornpraintnofri?i} _ and 4 Others the date the payrn.r, "r*r;; "t'- per sq' ft. per rnonth fron 01 L0.20r, ,1,, ;r: "::::::'*'return has nor i.e. s nor i.e., after oorr,rll,l ::meletion of constructio, , been paid i'e" aurhoriry and tr occupatio' .*;;;;;#;rme building co rnp r eti o n o, .ffi :::1 ;.:r; x'.:'#;: ;f - rrv r cspondent is directed to assured return -' pay the outstanding accrued l::: "J ;;.'il,. ::",::j. ;:,,1. :",::,1,e wi,hin eo outstanding dues. ,, ,.-' "_-"'' urqer after adjustrnent of which that amo;, H1, l": :r:, cornptainant and fairins vvrrrurl tnat amount Wo,l, h^ ^^ ---l-rqrrrdltL olld failing p.a. fi, the date,unt would be payable with inter Tho -^^-- rf actuar reari zation. 'est @ 9.L00/o atrzdtloll.

The respondent is directed to handover the unit to the cornprainant in ,"",-.;:, t"tteposSession of the dated n.08.201.2, afteroo "t't of the buyer's agreernent rr o rn th e co m p e re n t, u,n o.lll ; r:.T "r"."..:::,] :: .: : ::i ri ca te _- vrrr urru colTlpetent authority under sect. -- vvr,rrUdf€ with section 17 r,r+r-^ ,r . ^^-' qrrusr rectlon L1(4)(b) read rv rhe respJ;1 rjl:i:: 2076 to execute the conveyance deed of the a'otted unit within the 3 months after the receipt of the OC from the concerned authority and u requisite stamp dury by rhe .o*ptrin;; ,:0" pavment or state government. -.-'-rrrarrL) as per norms of the Page 30 of 31 HARER& ffi GURUGI?AM v' The respondent shail not charge anything from the comprainants which is not the part of the buirder buyer agreement. vl.

A period of 90 days is given to the respondent to compry with the directions given in this order and fairing which regal consequences would follow.

This decision shail mutatis mutandis appry to cases mentioned in para 3 of this order wherein details of rate of assured return, area of the unit, amount paid by the complaina,nt'allottees, and amount of assured return received by the complainants is mentior is mentioned in each of the complaints.

The complaints stand disposed of.

41..

42.

43. matter.

Files be consigned to rr Dated: O9.O7.ZOZS ',: Page 31 of31 Complaint no. plaint no.

4930 of 2023 and 4 Others Haryana Real Regulatory Authority, Gurugram