Rajasthan Real Estate Regulatory Authority's Order: Panorama Greens Project Complaint

The Rajasthan Real Estate Regulatory Authority, Jaipur recently issued a significant order in the case of Ratna Lovina Franklin versus Shree Shyam Kripa Enterprises. The case revolves around a project named "Panorama Greens" registered under the Authority bearing registration number RAJ/RERA/P/2017/259. This article aims to provide an in-depth analysis of the case, highlighting the key details, arguments, and the Authority's decision.

Case Overview: Complaint No.: RAJ-RERA-C-2021-4081

Complainant: Ratna Lovina Franklin

Respondent: Shree Shyam Kripa Enterprises

Background:

The complainant, Ratna Lovina Franklin, booked a unit in the Panorama Greens project on 06.06.2016, making an initial payment. A sale agreement was executed between the complainant and the respondent, specifying that the unit would be completed by 31.12.2018, with a grace period of 12 months until 31.12.2019. The agreement also stated that if the project faced delays beyond this timeline, the respondent would compensate the complainant at a rate of Rs.1000 per month. The complainant obtained a bank loan from HDFC Bank, which disbursed an amount of Rs.14.71 lakh. According to the agreement, the respondent was responsible for paying the pre-EMI amount until the unit's registration. The respondent paid Rs.2 lakh towards the pre-EMI until 18.01.2022 but discontinued the payments thereafter.

Complainant's Allegations:

The complainant argued that despite paying a total of Rs.21.94 lakh (equivalent to 63% of the total sale consideration), neither possession of the unit nor completion of the project was provided by the respondent. The project's promised completion date had passed more than three years ago. Advocate Abhilasha Sharma, representing the complainant, cited various relevant case laws and prayed for a refund of the amount paid, along with interest.

Respondent's Absence:

The respondent, Shree Shyam Kripa Enterprises, was absent during the proceedings on three consecutive occasions, despite being properly served with summons. This led the Authority to infer that the respondent either had nothing to say in their defense or chose to ignore the summons.

Authority's Decision:

Considering the complainant's arguments and examining the submitted documents, the Authority found that the respondent did not appear to present their side of the case. Based on the evidence, it was clear that the complainant had made the specified payments, and the project's completion had been delayed beyond the agreed timeline. The Authority noted that the respondent was unable to deliver possession of the unit in the foreseeable future.

In light of these findings, the Authority directed the respondent to refund the entire amount of Rs.21.94 lakh to the complainant, along with interest at the rate prescribed in the Rajasthan Real Estate (Regulation & Development) Rules, 2017. The interest rate was determined to be SBI highest MCLR + 2%, which amounted to 9.30% per annum, calculated from the date of each deposit until the date of refund. Additionally, the respondent was instructed to settle any outstanding liabilities with the bank to close the bank account.

Conclusion:

The Rajasthan Real Estate Regulatory Authority's order in Complaint No. RAJ-RERA-C-2021-4081 sheds light on the Panorama Greens project case. Despite the respondent's absence and lack of a defense, the Authority examined the complainant's submissions and evidence to make an informed decision. The order directs the respondent to refund the entire amount paid by the complainant, along with interest. It emphasizes the importance of timely completion of projects and the protection of homebuyers' interests.

Note: The information provided in this article about Rajasthan Real Estate Regulatory Authority (RRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances. The information provided in this article is based on the Complaint No. RAJ-RERA-C-2021-4081 before the Rajasthan Real Estate Regulatory Authority

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