Authority tells developer to refund Rs 21.9L

The Punjab Real Estate Regulatory Authority has directed ATS Estate Private Limited to refund Rs 21.98 lakh at an interest of 11.9 per cent per annum from the date of deposit after a Dhakoli-based couple lodged a complaint in 2023 against the builder. The complainants Diviya Vashishta and Navneet Vashisht had booked a flat in the company’s project in Dera Bassi but due to prolonged delay in delivery were not inclined to stay in the project.

The complainants jointly booked an apartment on the fifth floor in the building in a project named ‘ATS Golf Meadows Lifestyle’ at Dera Bassi, on June 27, 2017. The date of the delivery was fixed at 42 months with a grace period of six months from the date of the actual start of construction.

They also made a payment of Rs 21,98,420 at the time of obtaining a home loan from a bank. Possession of the apartment was to be delivered on June 26, 2021, however, till the date of their application of withdrawal, possession had not been handed over to them. It was further contended that ATS had also not paid the assured monthly rent of Rs 11,000 for 36 months to the applicants.

Therefore, the complainants were not interested in staying in the project and sought a refund.

Respondent No.1 had argued that only the courts at Noida, Uttar Pradesh, would have jurisdiction to decide disputes under the agreement executed. It was also further directed that the refund be made within 90 days, stipulated under Rule 17 of the Punjab State Real Estate (Regulation and Development) Rules, 2017, from the date of receipt of the order.