Haryana real estate regulator asks ILD to refund homebuyer's money with interest

The Gurugram bench of the Haryana Real Estate Regulatory authority (RERA) has directed International Land Developers (ILD) to refund a homebuyer's money along with interest as it failed to deliver the property on time.

"The authority hereby directs the promoter (ILD) to return the amount received by him from the allottee with interest at the rate as prescribed under the rule 15 of the Haryana real estate (regulation and development) Rules 2017 from the date of each payment till the actual date of refund of the amount within the timelines provided in the rule 16 of the Haryana Rules 2017," the court said while deciding the case in favour of the allottee on Tuesday.

The Rule 16 of Haryana Rules 2017 states any refund shall be payable by the promoter to the allottee within 90 days from the date on which such refund has been ordered by the court/authority.

The complainant booked an apartment in ILD Arete group housing project on June 10, 2015 and the due date of possession was December 10, 2019.

The promoter failed to deliver the apartment till August 2, 2021 when the buyer moved the RERA court and sought refunds.

The court observed that the due date of possession as per agreement for sale is December 10, 2019 and there is an apparent delay of one year seven months and 23 days on the date of filing of the complaint.

"The promoter has failed to complete or unable to give possession of unit in accordance with the terms of agreement. Accordingly, the promoter is liable to return the amount received by him in respect of the unit with interest," the order said.