Tamil Nadu

₹3 lakh penalty imposed on builder

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has levied a penalty of ₹3 lakh on Ozone Projects Pvt. Ltd. for collecting more than 10% of the cost of the apartment from a homebuyer without first entering into a written sale agreement.

The order came in a case filed by Priti Jaiswal, who had booked an apartment in the developer’s Metrozone Project, for which the sale and construction agreements were signed on January 18, 2020.

TNRERA noted that the complainant also stated that there was a delay of 46 days from the date of payment to the date of execution of sales agreement.

This is in contravention of Section 13 of the RERA Act, it noted and levied the penalty which should be paid before November 30, 2021. The Authority noted as per the agreements, the total sale consideration was about ₹1.78 crore and the homebuyer had paid ₹65 lakh.

It also directed the developer to hand over the apartment, completed in all aspects, on receipt of the balance sale consideration strictly as per the sale and construction agreements, and also furnish the completion certificate of the tower in which the apartment was situated on to the homebuyer.

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Printable version | Dec 2, 2021 4:24:58 AM | https://www.thehindu.com/news/national/tamil-nadu/3-lakh-penalty-imposed-on-builder/article36676278.ece

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