BUILDER TO REFUND 2.7 – CRORE SECURITY TO SOCIETY RESIDENTS

Punjab Consumer Disputes Redressal Commission has directed a Delhi based builder to refund Rs 2.7 in interest fee maintenance security (IFMS) Zirakpur- based Jaipuria Sunrise Green Apartments Owners Welfare Association besides Rs 20 Lakhs in dues Rs 2 Lakhs in litigation cost.

Also Read- Delhi-based builder to refund ₹2.7-crore security to Zirakpur 

Consumer Case against Builder for IFMS & Maintenance Amount
Consumer Case against Builder for IFMS & Maintenance Amount

In the present case the members of the association had filed a complaint against the builder SMV agencies and its five directors on the grounds that the possession of the apartments was to be given 2008 however it got delayed and was delivered in parts to allottees from 2012 onwards. The allottess paid around Rs 2.8 Crore in IFMS and the builder has also collected monthly maintenance charges worth Rs 20.88 Lakh for day-to-day operations. They alleged that 12 years have passed since the date of possession yet the complex is not complete.

Also Read- Legal steps for recovering IFMS & Sinking Fund from a builder

Denying the allegation of deficiency in service the builder stated that they had completed the project in 2013 and had received the completion certificate in 2015. It added that it is imperative for the welfare association to clear the dues of the builder for the period it was maintaining the project and not ask for IFMS as the members are themselves guilty for the not payment of maintenance dues.

Also Read- IFMS collection by builder – Kaanoon

Justice Paramjeet Singh Dhaliwal, president of the commission directed the builder to refund Rs 2.76 Crore IFMS to the association along with the interest rate of 18% per annum with effect from August 27, 2016 till the amount is not paid. He also directed the builder to refund the dues of Rs 20 Lakh, along with the interest rate of 9% per annum and to provide all certificates and complete statutory compliances regarding the complex to the welfare association. The commission also directed that all the letters of Environmental Clearance are to be complied with.

Also Read- IFMS and sinking fund: Can a builder rightfully charge both?

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