Home > Property & Interior > Even a token rupee could force builder to execute sale deed

Even a token rupee could force builder to execute sale deed

Saturday, February 18, 2012

Consumer forum attributes it to MOFA saying executing sale deed is obligatory on part of builder, developer

“As per section 4 of the MOFA (Maharashtra Ownership of Flats Act), it is obligatory on part of the builder/developer to execute the sale/purchase deed if they accept even a rupee from the purchaser,” the Mumbai Suburban District Consumer Disputes Redressal Forum observed last week.

The Mumbai Suburban District Consumer Disputes Redressal Forum said this while dealing with complaints filed by four residents against Kanishka and Company.

Reportedly, in September 2005, the four had booked flats in Hrishikesh Tower supposed to be constructed by the developer at Padma Nagar in Borivli (West).

The quartet alleged that despite having paid Rs lakh each towards the booking amount, the developer hadn’t executed the sale/purchase deed nor completed the construction work. When they realised that a third party was being involved at the proposed site, they  approached the consumer forum.

They had even sought direction to the developer either to hand over possession of ready flats to them after receiving balance payment or pay compensation computed on the basis of the market rate for ready flats in the area.

Although before the forum, Kanishka and Company maintained they had never accepted any amount from the complainants towards booking of flats, and that it was a friendly loan, the forum found the developer had issued receipts against the booking amount received from the complainants. Also, the receipts were not only stamped with the developer’s seal but also mentioned the number of flats allotted to the respective complainants.

Holding the developer guilty of deficiency in service for failing to execute a sale / purchase deed and hand over the flats as assured to the buyers,the forum directed Kanishka and Company to refund the token amount received from the quartet along with interest at 12% per annum from the date of payment.

The forum, however, rejected their plea for ready possession of flats or compensation at market rate because some other builder had acquired the development rights of the property.

There can be an appeal against the order of the district forum or the state commission or the national commission and any aggrieved party can file appeal against the order of the district forum or the state commission or the national commission in state commission, national commission or the Supreme Court respectively within a period of thirty days from the date of receipt of the order.
 

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