The Haryana Real Estate Regulatory Authority (HRera) has directed Pareena Infrastructure to pay nearly Rs 23 lakh in compensation to two homebuyers over a prolonged delay in handing over their flat, which the authority found had caused financial losses and mental harassment, according to a TOI report.
The developer has been given 30 days to make the payment. In case of default, the outstanding amount will attract interest at 11% per annum until it is realised.
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Homebuyers sought compensation over delayed possession
The order was passed by HRera adjudicating officer Rajender Kumar on Monday on a complaint filed by Udit Sharma and his father Rakesh Sharma.
The buyers said they had booked a 1,550 sq ft apartment in Pareena Coban Residences for Rs 78.04 lakh in February 2013. They alleged that the developer had initially promised possession within four years.
According to the complainants, several additional charges were imposed when the builder-buyer agreement was executed, substantially increasing the cost, while a definite possession timeline was not provided.
The buyers said they had paid Rs 43.72 lakh towards the property but did not receive a firm date for possession.
Earlier refund order
The complainants had previously approached HRera seeking cancellation of the allotment and a refund. In July 2022, the authority directed the developer to return the deposited amount along with interest.
In the current proceedings, the buyers sought compensation for mental agony, financial hardship, loss linked to appreciation in property prices and litigation expenses. They argued that the delay prevented them from purchasing a comparable property at the original price and also resulted in rental losses.
Developer challenges compensation claim
Pareena Infrastructure opposed the claim, stating that the complainants had failed to make payments under the revised payment plan. The developer said the allotment had subsequently been cancelled in accordance with the agreement.
It also argued that the buyers had already received an order for a refund with interest and therefore could not seek additional relief based on the same cause.
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RERA allows compensation for financial losses
Rejecting the developer's objections, the adjudicating officer held that an earlier refund order did not prevent the authority from awarding compensation under the Real Estate (Regulation and Development) Act for separate financial and non-financial losses caused by the promoter's failure to complete the project and deliver possession.
HRera accepted the buyers' claim related to the increase in property prices and calculated compensation in proportion to the amount they had paid. Around Rs 21 lakh was awarded for the loss arising from property appreciation.
The authority also awarded Rs 1 lakh for mental harassment and agony and Rs 50,000 towards litigation costs, taking the total compensation to nearly Rs 23 lakh.
