The National Consumer Disputes Redressal Commission has imposed fine on noted builder Raheja Developers asking it to return the amount paid by the buyers along with interest for delay in completing the project. It asked the builder to pay 9% interest annually and return the whole amount in two months. If the time exceeds two months, the builder should pay 12 percent interest.
The Revanta project of Raheja group, taken up in Sector 78 of Gurgaon area, was delayed abnormally. There was no progress in the project even after 10 years of grounding the project. The project could not be completed even after five years of expiry of the deadline. There is scope for it to drag four more years in this fashion. Therefore, at least 30 buyers approached the commission for justice.
