Hyderabad-based real estate firm asked to repay Rs 7.15 to client
Deccan Chronicle.| MOULI MAREEDU
Rao alleged that Sri Shirdi Sai Brindavanam Avenues Pvt Ltd failed to develop the venture as per the agreement
HYDERABAD: The Hyderabad District Consumer Disputes Redressal Commission on Monday directed the Sri Shirdi Sai Brindavanam Avenues Pvt Ltd managing director and its manager to refund Rs 7.15 lakh for failing to develop a real estate venture after collecting money from customers.
One Maram Sreenivasa Rao, 52, of Anandnagar Colony, Khairatabad, filed a petition before the commission stating that he was induced by the brochures of the venture named ‘Sai Reshika Paradise’ being developed by Sri Shirdi Brindavanam. He purchased two plots measuring 666 sq. yd in Kantheru village, Tadikonda mandal, Guntur, Andhra Pradesh.
Rao said he paid Rs 7,15,000 as part payment of the total consideration of Rs 46,62,000 and the balance amount was to be paid at the time of registration as per the sale-purchase agreement. The real estate firm agreed to register the plots within 12 months from the date of agreement of sale according to the CRDA norms. In case the layout plan number was not allotted within six months from August 16, 2019, the date of the agreement of sale, the entire amount of Rs 7.15 lakh would be refunded to the purchaser with interest at 24 per cent per annum.
Rao alleged that Sri Shirdi Sai Brindavanam Avenues Pvt Ltd failed to develop the venture as per the agreement and failed to obtain the layout permission number from the CRDA. Denying the allegations, the builder contended that the registration of the property in favour of the complainant could not be completed in time due to the Covid-19 pandemic and other unavoidable conditions.
After hearing the case, the commission directed Sri Shirdi Sai Brindavanam Avenues Pvt Ltd to refund Rs 7.15 lakh and pay compensation of Rs 1 lakh and litigation charges of Rs 10,000.