Guwahati, Sep 9 : The Assam Real Estate Appellate Tribunal (REAT) has directed a builder to deposit with it within three weeks a sum of about Rs 64 lakh before an appeal against an order of the Real Estate Regulatory Authority (RERA), Assam can be considered for admission.
An official statement issued here on Friday informed that M/s Gargi and Associates Private Limited had filed an appeal against an order (dated June 2, 2022) passed by RERA Assam wherein the latter had directed the builder to return the consideration amount of Rs 34, 00,000 along with interest to the buyers of a flat for failure to deliver the flat on time.
According to the order, the rate of interest was calculated from the date of receipt of the consideration amount by the builder.
The tribunal ruled that the proviso to Sub-section (5) of Section 43 of the Real Estate (Regulation and Development) Act, 2016 contains two distinct parts relating to the quantum of deposit, required to be made by the promoter with the appellate tribunal before the appeal is entertained.
The first part is where a penalty has been imposed by RERA and the same is put to challenge by a promoter by way of an appeal. In this case, the promoter must first deposit with the appellate tribunal at least 30 percent of the penalty.
The second part is where the challenge is made to an order of RERA where a promoter has been directed to make payment of the total amount to the allottee against the purchase of a flat.
In this case, the promoter has to deposit with REAT the total amount to be paid to the allottee, including interest, before the appeal can be entertained.
The appellate tribunal cannot accept any deposit other than the total amount.
The tribunal, therefore, asked the builder to first deposit Rs 64, 21,955, including the consideration amount of Rs 34, 00,000 paid by the buyers to the builder and the interest amount of Rs 30, 21,955.
The order was passed by Justice (retired) Manojit Bhuyan, chairperson, Assam REAT, and Onkar Kedia, member, Assam REAT.
