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Gurugram RERA fined Vatika Limited more than Rs 6 lakh for infractions

Photo-Moneycontrol

The Gurugram Real Estate Regulatory Authority (RERA) has issued a significant fine of over Rs 6 lakh to Vatika Limited for breaching advance payment and buyer-builder agreement regulations. The penalty was imposed following complaints from five buyers who alleged that they had paid for commercial units in a Vatika project but were subsequently relocated to another project without their consent.

According to the RERA court's order dated April 5, Vatika Limited accepted full payment from the buyers without executing the builder-buyer agreement (BBA), a violation of the RERA Act. The Act stipulates that a promoter cannot accept more than 10 percent of the total cost of a property without a written agreement, which must also be registered. Vatika Limited failed to adhere to these requirements.

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The complaints were lodged in October 2022, stating that the buyers had booked commercial units in Vatika India Next project in Gurugram's Sector 82 in 2018 and had made full payments without signing a builder-buyer agreement. Subsequently, in 2019, Vatika transferred their units to Vatika One on One project in Sector 16 without their consent and reduced the size of the units. Despite these actions, Vatika Limited did not execute the BBA, as mandated by the RERA Act.

The RERA court imposed a penalty of Rs 1,00,000 for each complaint and directed Vatika Limited to execute the registered buyer's agreement within 30 days, failing which further penal action would be taken under Section 63 of the RERA Act. Additionally, a fine of Rs 25,000 was imposed for each complaint, with Vatika Limited instructed to make payments to the complainants within 30 days from the date of the order.

Furthermore, Vatika Limited was required to pay interest for every month of delay in possession, calculated from the due date of possession until a valid offer of possession is made. The total penalty amounted to Rs 6.25 lakh, inclusive of a Rs 5 lakh fine and other payments totaling Rs 1.25 lakh.

Gaurav Rawat, legal counsel for the complainants, clarified that since no BBA was signed, the authority considered 2023 as the year of possession, resulting in the imposition of penalties for delay accordingly. Vatika Limited did not respond to queries from Moneycontrol at the time of reporting.

April 17, 2024 4:29 p.m. 3542

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