Bangalore builder to pay for delay in flat possession

Bangalore Property at Makaan.com

In a landmark judgment in Bangalore realestate  Karnataka State Consumer Disputes Redressal Commission has asked a leading Bangalore realestate developer to pay a a substantial amount of cash for failing to give a possession of residential property in Bangalore within the stipulated time. The developer of realestate in Bangalore has been asked to pay an interest of 15% on the cash that was paid by the purchaser towards the sale of residential property in Bangalore.

According to the complainant the purchaser had bought residential Bangalore property . He was promised that the possession of flat in real estate in Bangalore India would be given in January 2003. He had requested the builder to merge the 2 flats of 1,150 square feet each and provide him with a larger flat which measures 2300 square feet. A sale deed was signed for the same, but when the developer of real estate in Bangalore, India failed to give him possession even in 2010, the complainant had to approach Karnataka State Consumer Disputes Redressal Forum.

The commission asserted that it is clear that the two parties had entered in a sale agreement in 2001. The complainant had paid builders of realestate in Bangalore an amount of  Rs 11.5 lakh, and the balance was to be paid in the year 2002. The purchaser had asked Rs 20 lakh as a compensation amount apart from seeking directions that the developers of real estate in Bangalore India to execute the deed. The commission has said that the delay of the property site was intentional and it has asked the builders to execute the sale deed of the 2,300 square feet property site within a month. The commission has also asked the builders to pay 15% interest on the money given by the purchaser alongwith Rs 2,000 as litigation expenses within a month. Makaan.com is India property sites that deals with real estate India. The property site lists India property and property in Ahmedabad.