HYDERABAD: The Telangana State Consumer Disputes Redressal Commission has directed PL Realtors Private Limited, Ameerpet to refund Rs 14,73,934 with 12 per cent interest, besides Rs 3 lakh as compensation to a customer for deficiency of service.
In 2008, the company launched a venture and NV Krishna, a 66-year-old resident of Banjara Hills, paid Rs 3.50 lakh for a residential flat. After a few months, he made another payment of Rs 11,23,934 and entered into an agreement wherein the total cost of the flat was mentioned as Rs 99,92,728.
The construction would have been completed within 30 months from the date of the agreement with a grace period of six months, the agreement said.
The complainant followed up regarding the construction, but the company did not show any progress and handed over the project to SMR Holdings, in spite of the fact the project was incomplete even in 2015 and the land appeared barren. Thus the complainants issued a legal notice with a demand to refund the amount with interest at the rate of 24 per cent PA but there was no reply from the company.
Though the agreement was entered in 2008, permission to construct the building was obtained in 2014. The Commission ruled that it was clear that six years went by and the company cannot claim the “force majeure” clause.
It ruled that termination is done by the complainant due to the failure of the company to complete the project and deliver the flat nearly eight years after the date of complaint. During this period even though bank lending rates of interest had reduced, private lenders’ did not.