Home Case Index All Cases Indian Laws Indian Laws + Commission Indian Laws - 2016 (8) TMI Commission This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 1457 - Commission - Indian LawsWhether the complainants are entitled to any compensation for the delay on the part of the opposite party in offering possession to them and if so, what should be the quantum of compensation which the opposite party needs to pay to them? HELD THAT:- It is an undisputed proposition of law that ordinarily the parties are bound by the terms and conditions of the contract voluntarily agreed by them and it is not for a Consumer Forum or even a Court to revise the said terms. Though in SHRI SATISH KUMAR PANDEY & ANR. VERSUS M/S UNITECH LTD. AND OTHERS [2015 (6) TMI 330 - NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION NEW DELHI], this Commission had awarded compensation in the form of interest @ 12% per annum, considering the recent decline in the cost of borrowing and return on the investments made with the banks, I am of the considered view that payment of an all inclusive compensation in the form of interest @ 10% per annum will meet the interest of justice. The opposite party shall complete the construction in all respects unless already complete, obtain all the requisite approvals including the occupancy certificate, at its own cost and responsibility and offer possession of the flat booked by the complainants, to them on or before 31.01.2017 - The opposite party shall pay, to the complainants, compensation in the form of simple interest @ 10% per annum w.e.f. from the committed date of possession as per the Buyers Agreement till the date possession is offered to them in terms of this order. The balance amount, if any, payable by the complainants, shall be adjusted while paying compensation in terms of this order. The compensation shall be paid on or before the date on which the possession in terms of this order is offered to the complainants. If the opposite party fails to deliver possession and pay compensation in terms of this order, the complainants shall be entitled to seek execution of this order under Section 25 & 27 of the Consumer Protection Act - The opposite party shall pay ₹ 10,000/- as cost of litigation to the complainants.
|