1. The complainants entered into an agreement on 24.08.2016 with the OPs (the developers and landowners) for purchasing a flat of 1200 sq.ft. in a proposed building named as Unique Infinite and advanced Rs. 8,04,000/-. As per agreement, the transfer by way of delivery of possession and execution & registration of sale deed was due to be done within 31 months (i.e. to say by 24.03.2019). But the developers failed to raise construction of the proposed building within the stipulated time for which request for refund of the paid amount was made by the complainant. On 15.08.2019 refund of Rs. 2, 00,000/- by IDBI Banks cheque being no. 164016 was made by the developers, abstained for making refund of the rest amount for which the complainant has filed this case on 26.09.2019 seeking refund, compensation, interest and cost.
2. Neither the landowners nor the developers contested the case by filing W/V for which the case has been heard ex parte.
3. In support of their case the complainants have filed evidence-in-chief, copy of agreement for sale, money receipts granted by the developers for Rs. 8,04,000/- and brief notes of arguments. Those documents have gone unchallenged for which the imports of those documents naturally become credible and acceptable. Regard being had to the copy of agreement and money receipts it can safely be stated that Rs. 8, 04,000/- was paid in 2 instalments by the complainant to the developers on 21.08.2016 and 01.07.2016. Relying upon the unchallenged evidence-in-chief it can be held that for some unknown reasons the developers could not or had not constructed the proposed building containing the flat booked by the complainant. A buyer cannot be expected to wait indefinitely for getting a flat from the developers. Therefore, the request as made by the complainant for refund of the paid amount was well founded one. The developer who has already refunded Rs. 2,00,000/- is under obligation to pay back the received amount i.e. to say Rs. 6,04,000/-
4. In so far as the rate of interest is concerned the Ld. Advocate of the complainant has referred to clause 11.3 of the agreement in support of his submission that the unpaid amount would accrue interest @ 12%p.a. True it is that as per clause 11.3 the developer is liable to pay @ 12%p.a. of paid amount for the period of delay at the time of delivery of possession. But similar situation to attract the said clause has not arisen in this case. At the same time it cannot be denied that the complainant could have generated income by way of interest had he invested a sum of Rs. 6, 04,000/- in some profit oriented scheme. It can reasonably be opined that the unpaid amount of Rs. 6, 04,000/- would accrue interest keeping in view the rate of interest of the money lending financial institutions. We think that interest @ 10%p.a., if imposed, would be justifiable one. Therefore, the OP will pay Rs. 6, 04,000/- with interest @ 10%p.a. with effect from 21.08.2016 till realisation. Needless to say the complainant had to put up with mental agony, uncertainty and loss of interest due to the unfair trade practice of the developers and therefore the complainants would get Rs. 1,00,000/- on account of compensation as litigation cost he will also get Rs. 25,000/-. The other reliefs as claimed by the complainant are therefore, denied as the same are inadmissible.

The complaint case is thus disposed of with the following directions:-

1. The OPs will pay Rs. 6, 04,000/- with interest @ 10%p.a. with effect from 21.08.2016 till realisation within a period of 45 days failing which the amount would carry interest @ 12% p.a.
2. The OPs will also pay Rs. 1,00,000/- as compensation and Rs. 25,000/- as litigation cost totalling Rs. 1,25,000/- within a period of 45 days failing which the amount will accrue interest @ 12%p.a.

Let a plain copy be given to the parties free of cost as per CPR.

Dictated and Corrected by

 [HON'BLE MR. Lakshmi Kanta Das]
PRESIDENT