The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has directed Pacifica (Chennai) Infrastructure Co. Pvt Ltd. to pay a compensation of ₹2 lakh and refund the amount paid by home buyers along with interest for non-delivery of flat.
In their petition, S. Udaya Kumari and V. Prasanth Durai said they had booked a flat in the developer’s project — Aurum Pride Tower — in Padur village, Kanchipuram district and had paid about ₹52.2 lakh out of the total price of about ₹53.90 lakh. A sales deed was executed with a promise of handing over the flat on July 15, 2015.
But till date the construction of the flat had not been completed and the developer failed to hand over the building as per the agreement, they said and sought refund and compensation.
TNRERA ruled that the buyers were entitled for return of the amount, with interest, compensation and cost.
It asked the builder to refund the amount with interest of 10.05% per annum from the date of payment, along with the compensation and litigation cost of ₹20,000.
