In his order, Justice V K Jain directed the company to pay compensation
at the rate of 12% per annum on the amount paid for the period from the
date of delivery originally promised to the new date. The new delivery
dates promised by the company are between February 2016 and February
2018.
The NCDRC also ruled that any delay beyond the new deadline promised would draw a compensation of 18% per annum.
"In order to ensure that the opposite parties honour the revised date
of delivery of possession, compensation in the form of interest at a
rate higher than 12% per annum should be paid by the developer if the
revised date of delivery of possession is not honoured," the judge said.
A Unitech spokesperson told TOI the company hadn't seen the order yet and would respond only after it went through it.
In its last hearing in the case on June 1, the apex consumer court had
rejected Unitech counsel Sunil Goel's contention that it did not have
the jurisdiction to surpass the builder-buyer agreement.
Buyers welcome order
The NCDRC had said any unfair trade practice can be challenged by it,
even if there is a prior agreement between the parties. "When the buyer
is made to pay 18% penalty for default, is it fair on the developer's
part to pay a mere 1.8%?" Justice Jain had said. The lawyer who
represented the buyers, Sushil Kaushik, said, "When the buyers are made
to pay a penalty at 18% (for default), the same rule should apply to the
developer also." To know more visit our site http://allindiayellowpage.com.