News website from Central India-Madhya Pradesh, Chhattisgarh
Free, Fair and Fearless
Top News

Property promise failed: Consumer Forum asks Bhopal builder to refund deposit with interest

Share this story on :
consumer forum  property  builder  promise  failed  possession  delay  Bhopal  Madhya Pradesh


Special Correspondent

BHOPAL: In an order that is likely to help many who purchased property but did not get possession in time, the Bhopal Consumer Forum has ordered a prominent builder group to refund deposit amount with interest to two buyers who cancelled the deal due to undue delay in handing over of property.

The Consumer Forum asked the AG 8 Ventures Limited (formerly known as Aakriti Developers Pvt Ltd) to pay Rs 3.5 lakh each with 6% interest from date of filing of complaint (March 2014) to the complainants Abhishek Jain and Sonal Jain.

The Forum headed by Alok Awasthi and inclusive of members Sunil Shrivastava and Monika Malik upheld the right of the consumers to cancel the deal after finding that the builders had reneged on their promise to deliver the property (tw separate floors of a duplex) within the promised time limit of one year.

An agreement shown by the builder that the property would be delivered in 36 months and clauses like deduction of deposit and refund only when the property is resold was not considered by the forum.

The advocate of the complainant consumers Sarita Rajani told that the complainant couple had made a deposit of Rs 3.5 lakh each to the builders to purchase two floors of a duplex in Spring Highlands Project (Phanda) in March 2013.

They were duly given receipt for the deposit. But when the complainants visited the site a year later, they found that the project had not even got off let alone at possession stage. They then demanded that the builder refund their deposit, which the builder refused.

A complaint was then filed with the consumer forum. Earlier this month, the forum ordered in favour of the complainants, asking the builder the refund the amount with interest. (Image courtesy: