Chennai

‘Refund ₹82.61 lakh with interest’

The Tamil Nadu Real Estate Regulatory Authority (TNRERA), Chennai, has directed a developer to refund a total of ₹82.61 lakh, along with interest, to buyers for non-delivery of commercial units.

In two separate complaints, the buyers said they made applications for allotment of commercial units, which are shops in a commercial complex, namely ‘Gold Souk Grande’ on GST Road, Vandalur, promoted by M/s Metroline Promoters (P) Ltd.

In her compliant, Lavanya Prasad said she was allotted a shop and had paid an amount of ₹37.25 lakh and the date for delivery of the unit was June 30, 2013.

In a separate compliant, A. Joesph Stanley and S.J.S. Thamarai Selvi said they had paid ₹45.36 lakh for the shopping unit and date for delivery was June 30, 2013. As per the agreement, monthly rent for the amount invested in the respective units was fixed at ₹31,042, with effect from July 1, 2011, till the date of offer of possession, Ms. Prasad said.

In the case of Joesph Stanley and S.J.S. Thamarai Selvi, the agreed rent was ₹37,800 per month from June 10, 2011, till the date of offer of possession.

The developer paid the agreed rent only for a few months, and since the shops were not handed over, the buyers said they lodged a complaint with the District Crime Branch police, Kancheepuram, on October 13, 2016.

TNRERA directed the developer to refund the amounts along with interest at the rate of 10.20% per annum. It also told the developer to pay compensation of ₹3 lakh each to the buyers towards mental agony, hardship and inconvenience caused, and fixed litigation expenses at ₹20,000 each.

Article source: https://www.thehindu.com/news/cities/chennai/refund-8261-lakh-along-with-interest/article30308259.ece

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