1.      Heard counsel for both the parties.

2.      Nitesh Chandok, the complainant has filed above complaint for directing the opposite parties to (i) refund Rs.11437180/- with interest @24% per annum, (ii) pay Rs.10/- lacs as compensation for mental agony and harassment, (iii) pay Rs.1/- lac as cost of litigation and (iv) any other relief which is deemed fit and proper in the facts of the case.

3.      The complainant stated that the opposite parties were companies registered under the Companies Act, 1956 and engaged in the business of development and construction of group housing project. M/s Devidayal Aluminium Industries Pvt. Ltd. (opposite party-3) was owner of the project land. Under a collaboration agreement dated 28.10.2004, Parsvnath Developers Ltd. launched a group housing project in the name of ‘Parsvnath Exotica’ at village Arthala, Pargana Loni, District Ghaziabad, Uttar Pradesh in the year 2009 and  made wide publicity of its facilities and amenities. Believing upon the representations of the opposite parties, the complainant booked a flat and deposited the booking amount on 31.10.2008. Opposite party-2  allotted Unit no. D2-404 area approximately 1920 sq. ft. for a basic price of Rs.5356800/- and executed Flat Buyers Agreement dated 13.04.2009, in favour of the complainant. Vide letter dated 29.05.2009, the allotment was changed to Unit No.D1-504. The complainant opted for ‘construction linked payment plan’ as provided in Annexure-1 of the agreement. As per demand of the opposite party, the complainant deposited total amount of Rs.5337180/- till April 2013. Clause 10(a) of the agreement provides 36 months from the date of commencement of the construction for completing construction. Although the complainant has deposited more than 99% of the consideration till 2013 but the construction was not completed. Then this complaint has been filed for refund of the money on 10.02.2016. 

4.      The opposite party has filed its written reply in which the fact relating to allotment of Unit, execution of Flat Buyers Agreement and deposits made by the complainant have not been disputed. The opposite party has taken plea that M/s Devidayal Aluminium Industries Pvt. Ltd. (opposite party-3) was owner of the project land, who had created dispute in respect of the land. Due to dispute created by opposite party no.3, the project could not be completed. 

5.      The complainant filed Rejoinder reply on 04.09.2017, Affidavit of Evidence of Mr. Nitesh Chandok, the complainant. The opposite party-2 filed Affidavit of Evidence of Madan Dogra. Both the parties have filed their short synopsis of arguments. During the course of arguments, counsel for the opposite party informs that the dispute amongst the opposite parties have been referred to an Arbitrator.  After hearing the arguments, the Arbitrator has reserved for award.

6.      I have considered the arguments of the counsel for the parties and examined the record. 36 months period expired 12.04.2012, from the date of agreement. Payment plan was “construction link payment plan”. The complainant has deposited about 99% of the consideration, as per demand of the opposite parties but the possession has been unreasonably delayed. Although dispute among the opposite parties is waiting for award but the fact remains that still the project is not proceeding and there is no likelihood that the project would be completed in the near future. It is well settled that a home buyer cannot be made to wait for possession for unlimited period.  So far as interest is concerned, counsel for the complainant states that the complainant is in need of money, he is willing to accept 8% interest.

7.      The counsel for the opposite party states that opposite party-3 is sharing profit under Collaboration Agreement, as such he is equally responsible for refund. It is not disputed that the project is being developed by opposite party no.2, who is a promoter as defined under Real Estate Regulation and Development Act, 2016. The promoter is liable to refund the money under Section 18 of the RERA Act, 2016.

ORDER

In the result, the complaint is partly allowed with cost of Rs.50000/-.  Opposite party no.1 & 2 are directed to refund the entire amount paid by the complainant with interest @8% per annum from the date of deposit till the date of refund, within a period of two months from today.