The National Consumers’ Redressal Commission (NCRC) has directed a real estate developer to pay compensation to flat buyers for delaying giving possession of the flats to buyers. It directed the developer to pay 6% of the cost of the project to the buyers every month till handing over the flats to them. It asked the developer to execute a conveyance deed and give it to the flat buyers who are yet to get possession of the flats.
If the realtor did not get the occupancy certificate for any of his or her project’s towers, they are asked to get it immediately. At the same time, it asked the buyers to clear the balance, if any, in six weeks. In Gurugram, the Ramaprasta City project was launched in 2008 over 450 acres. The developer promised to complete the project in four years and handover the flats to buyers. As the developer failed to handover the flats even after the deadline, some of the buyers moved the court in 2015. From 2018 onwards, handing over the flats commenced. Currently, 1500 families live there.
