The National Consumer Disputes Redressal Commission (NCDRC) has taken significant steps to address consumer concerns by compelling Parsvnath Developers to disburse approximately Rs 80 lakh in compensation to a flat buyer in Delhi. This intervention comes after the real estate company failed to fulfil its obligations, including refunding payments and compensating for project delays, as directed by the NCDRC over three years ago. The commission has warned of daily penalties if the developer fails to honour cheques totalling Rs 15 lakh. The matter is set for a hearing on November 29, with the commission emphasizing compliance with its directives.
In a significant development addressing long-standing concerns of consumers, the National Consumer Disputes Redressal Commission (NCDRC) has wielded its authority to compel a major real estate player to disburse approximately Rs 80 lakh in compensation to a flat buyer in Delhi. Parsvnath Developers, the real estate company in question, faced the wrath of NCDRC after failing to fulfil its obligations, including refunding payments and compensating for project delays, to a Delhi resident. This intervention comes more than three years after the NCDRC initially directed the builder to refund the payment made by the flat buyer along with accrued interest. In a series of recent orders, the NCDRC bench, composed of Subhash Chandra and Sadhna Shanker, took a strict stance. Notably, on November 17, the commission warned Parsvnath Developers that a daily penalty of Rs 5,000 would be imposed if two cheques totalling Rs 15 lakh, handed over by the developer, were not honoured. The commission stated, "He also undertakes that the cost of Rs 10,000 imposed on the last date shall be deposited during the course of the day, and proof of payment will be filed," reiterating its commitment to enforcing compliance. Earlier, similar penalties had been imposed to ensure the builder's adherence to the directives. The matter has been listed for a hearing on November 29, with the commission instructing the builder to submit a clear statement of account along with an affidavit indicating the payment schedule. In a previous ruling in July 2019, the NCDRC had directed Parsvnath Developers to refund the entire principal amount of Rs 52 lakh to the flat buyer, Rajnish Seth, and also pay compensation with an 11% simple interest rate on Rs 43.9 lakh. This interest was to be calculated from the date of each payment until the date of refund. Despite the three-month deadline set by the commission, the builder failed to comply. Rajnish Sethi, the aggrieved flat buyer, approached the NCDRC again in March 2020 seeking the execution of its order. Advocate Vrinda Kapoor, representing Sethi, emphasized the builder's non-compliance with the refund order and revealed that the total amount payable, including interest for the delay, was approximately Rs 1.2 crore. Seth had initially booked a flat in the 'Parsvnath Preston' project in Sonipat in 2008. However, due to the non-commencement of construction for the allocated flat, the builder reassigned a flat to Sethi in another project, 'Parsvnath Privilege' in Greater Noida, in April 2013. The consumer approached NCDRC when the builder failed to deliver the project within the promised 36-month timeframe, seeking a refund of his payments.
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