NCDRC orders Panchsheel Greens to compensate delayed homebuyers

Greater Noida: The National Consumer Disputes Redressal Commission (NCDRC) has ordered Panchsheel Builders in Greater Noida to provide compensation to homebuyers affected by the delay in the completion of their housing project. The directive includes a payment of 6 per cent annual interest on the deposit made by the purchasers.

The order came after a homebuyer, who in 2012 had booked a flat for Rs 70 lakh in Panchsheel Greens society, Sector 16 of Greater Noida, faced a prolonged delay in receiving possession of the property.

The buyer was initially promised the flat by 2017 but was only asked to take possession of an incomplete unit in 2021, which they justifiably rejected.

The NCDRC has directed the builder to compensate for the three-year delay through a 6 per cent annual interest rate, alongside the order to complete the construction and hand over the flat without further delays, highlighting the severity of the issue.

The builder rationalised the delay by citing a farmer’s agitation that supposedly set the project timeline back by two years, from 2012 to 2014.

The court noticed that although the builder claimed to offer possession in 2017, the absence of an occupation certificate led the buyer to refuse acceptance of the property. It was not until four years later that the occupation certificate was issued, albeit to a property that was far from satisfactory.

Complainant Reena Rao rejected the builder’s possession offer, citing inhabitable conditions: incomplete entry gate, raw flats with seepage and unfinished woodwork, bathroom fittings, and kitchen work.

The walls were also reported as misaligned. Allegations included a price hike from Rs 55.7 lakh to Rs 70 lakh after an Allahabad High Court order, and claims of misallocation of project funds.

The NCDRC emphasised adherence to timelines and transparency in real estate practices to protect buyers’ investments.