Real estate firm Premium Acres told to pay Rs 2 lakh for flat delay

Buyers suffer as Yamuna authority cancels five housing projects of Jaypee Infratech

MOHALI: The state consumer disputes redressal commission, Punjab, has directed Premium Acres Infratech Private Limited, Mohali, to handover possession of a flat within two months, Rs 2 lakh for mental harassment and Rs 11,000 for litigation expenses to Mumbai residents Jaspal Singh and his wife Amarjit Kaur.

In their complaint, the couple stated that they decided to purchase a residential floor in Premium Acres Infratech’s project ‘The Courtyard’ at TDI City, Sector 110, Mohali. The couple booked a floor having a built up area of 1,200 square feet on a plot measuring 192 square yards for a total sale consideration of Rs 22.66 lakh, including basic sale price (BSP) and external development charges (EDC).

On the payment of Rs 4.30 lakh, Premium Acres Infratech issued an allotment letter on April 22, 2010, to the complainants but the agreement for the said floor was signed on August 22, 2011.

The builder promised the couple direct roads from Chandigarh to Mohali along with latest facilities provided by the government in mega housing projects.

The couple paid all installments as and when sought by Premium Acres Infratech along with taxes and interest. For paying the installments, the couple obtained a loan of Rs15 lakh from IDBI Bank and the total amount of Rs 24.97 lakh (100% of the total consideration) to the builder.

As per the terms and conditions of the buyer’s agreement, possession of the floor was to be given within 24 months, which was not done even after a lapse of almost two years from the expected date of delivery of possession.

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Post Author: Times of India

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