By Staff Reporter
The Fact :
This appeal is by Mahendra Homes Private Limited (hereinafter referred to as ‘the Promoter’ for short), being aggrieved by the impugned order dated 20.12.2022, passed by the 1 st Respondent-Karnataka Real Estate Regulatory Authority (‘the Authority’ for short), in Complaint No. CMP/220708/0009735. By the impugned order, while allowing the complaint, the Authority directed the Promoter to return a sum of Rs.1,00,000/- towards booking amount with interest @ 2% above the SBI MCLR from 08.05.2022.At later stage, since the Allottee was unable to mobilize requisite funds to pay the remaining amount, he requested the Promoter to cancel the booking of flat and sought for refund the entire booking amount of Rs.1,00,000/- paid by him. In response to the request made by the Allottee, the Promoter sent a communication through e-mail stating that, as per the terms of the booking form, the Allottee is entitled to receive only 50% of the booking amount.
The Judgement of Karnataka RERA Appellate Tribunal:
The averments made in the complaint before the Authority, the Allottee has clearly admitted that he could not arrange the fund due to unforeseen circumstances and higher rate of interest imposed by the banking institutions and thereby he gave a goodbye to the contract and requested the Promoter to refund the entire amount. It is not in dispute that, both Promoter and Allottee were the signatories to the Booking Agreement and in an unequivocal terms both the parties have agreed to adhere to the terms incorporated therein.It is apparently clear that, as the Allottee himself rescinded the contract, the Promoter is having every right to forfeit the 50% of the booking amount.
Download the main Judgment: Click Here