A Delhi-based man has received around Rs 16 lakh as a delay penalty from the promoter of a residential complex project in Noida that handed over the possession of a flat to him five years after the promised deadline.
According to the Uttar Pradesh Real Estate Regulatory Authority (RERA), the buyer had booked the flat in Mahagun Mezzaria in Sector 78 of Noida in 2017 and paid Rs 1.35 crore to its promoter, NexGen Infracon.
“The promoter had promised to deliver the flat in December 2018. However, due to a delay in handing over the possession of the flat and with no resolution regarding the payment of a penalty, the buyer approached RERA in 2021,” the authority said in a statement.
According to a RERA official, the promoter later pledged to hand over the possession of the flat to the buyer in 2021. Since the promoter did not honor the conditions of the builder-buyer agreement, the matter reached RERA for resolution, the official said.
Upon hearing the complaints, UP RERA passed an order in favour of the home buyer.
“During further proceedings for the execution of the order, the promoter handed over the flat to the homebuyer, meeting all conditions, along with a delay penalty of around Rs 16 lakh earlier this week. The satisfied home buyer has submitted a copy of the possession to the local authority,” RERA said.
The official said the interest for the delay in handing over the possession of the flat was calculated based on the marginal cost of the lending rate, according to RERA rules.
According to a statement, UP RERA has so far received requests in about 14,120 cases for compliance with orders issued by the Bench in matters related to refund and possession. Of these, around 10,470 cases have been complied with, it said.
“If a promoter is not complying with the order received from RERA regarding a consumer or complainant, the consumer should immediately inform UP RERA on the website www.Up-rera.In or www.Up-rera.In under the head ‘Order Execution Request’” the statement added.