Hyderabad: The Ranga Reddy District Consumer Disputes Redressal Commission ordered a real estate firm to refund 42.04 lakh with interest to a homebuyer after failing to deliver a residential plot as promised in a pre-launch project.The complainant, Gaurav Khandelwal, 43, a resident of Gachibowli, stated that he paid 32.34 lakh in 2022 for a 308-square-yard plot in a proposed layout. According to the agreement, the firm was required to secure HMDA approval, develop the site within a year, and register the plot in his name. The firm also offered a buy-back option with a 30% return if the project did not materialise.Despite repeated follow-ups, no approvals were obtained, and no development took place even after 16 months. When the complainant invoked the buy-back clause, the company initially agreed and issued a cheque for 42.04 lakh, but did not inform Khandelwal about it. Moreover, the cheque was dishonoured due to ‘insufficient funds’. When he flagged this to the firm, they reassured him that the refund would be processed soon. Subsequently, the firm stopped responding.After reviewing the evidence, the commission held the developer guilty of deficiency of service and unfair trade practice. In its ruling, the bench noted, “It is evident that the opposite party failed to register the subject plot as per the terms of the agreement, and, instead, issued a cheque which was dishonoured. This amounts to unfair trade practice, causing financial loss to the complainant.”The commission directed the firm to pay the principal amount with 6% annual interest from Dec 14, 2023, the date the cheque bounced, until realisation. Additionally, it ordered the payment of 20,000 as compensation for financial loss and 10,000 towards legal costs. The order gave the company 45 days to comply, failing which the interest rate will increase to 9% per annum.
