Appellant / Complainant
Priyadarshini Misra
Respondent
Wtc Noida Development Pvt Ltd
wtc noida development pvt ltd
₹24,15,658
Appellant
Legal Issues & Claims Raised
Case Procedural History & Progression Tree
Visual step-by-step tree detailing dispute origin, interim hearings, and final tribunal ruling.
Complaint Filing & Dispute Registration
Complaint registered under Case ID 0901126004552020 by Priyadarshini Misra against Wtc Noida Development Pvt Ltd before up_rera.
for delivery of Judgment/Order
The Tribunal set aside the Regulatory Authority's order, ruling that 'assured returns' are a separate contractual arrangement and do not exempt a developer from paying interest for project delays. The respondent is directed to pay interest at the rate of MCLR+1% per annum from the agreed possession date (14.10.2018) until the legal offer of possession with OC/CC.
Hearing
The Tribunal heard arguments regarding an appeal against a RERA order concerning the denial of interest under Section 18 due to pre-possession commercial arrangements; judgment has been reserved.
Hearing
The Tribunal noted the exchange of pleadings and scheduled the case for a hearing on 25.11.2021, stipulating that no further adjournments will be granted on that date.
Hearing
The Tribunal adjourned the appeal due to the absence of the respondent's counsel and directed both parties to file and exchange lists of dates, events, and relied-upon case law.
Delay condonation
The Tribunal allowed the application for condonation of delay, converted the defective appeal into a regular appeal, and directed the respondent to file a reply within 15 days.
Tribunal Order #0901126004552020-25-11-2021
The Tribunal heard arguments regarding an appeal against a RERA order concerning the denial of interest under Section 18 due to pre-possession commercial arrangements; judgment has been reserved.
Tribunal Order #0901126004552020-19-03-2021
The Tribunal allowed the application for condonation of delay, converted the defective appeal into a regular appeal, and directed the respondent to file a reply within 15 days.
Tribunal Order #0901126004552020-22-03-2022
The Tribunal set aside the Regulatory Authority's order, ruling that 'assured returns' are a separate contractual arrangement and do not exempt a developer from paying interest for project delays. The respondent is directed to pay interest at the rate of MCLR+1% per annum from the agreed possession date (14.10.2018) until the legal offer of possession with OC/CC.
Tribunal Disposal & Final Award Ruling
The Tribunal set aside the Regulatory Authority's order, ruling that 'assured returns' are a separate contractual arrangement and do not exempt a developer from paying interest for project delays. The respondent is directed to pay interest at the rate of MCLR+1% per annum from the agreed possession date (14.10.2018) until the legal offer of possession with OC/CC. Awarded in favor of Appellant. Awarded interest rate: MCLR + 1% per annum.
Final Tribunal Order & Ruling Verdict Summary
Official Ruling Summary
The Tribunal set aside the Regulatory Authority's order, ruling that 'assured returns' are a separate contractual arrangement and do not exempt a developer from paying interest for project delays. The respondent is directed to pay interest at the rate of MCLR+1% per annum from the agreed possession date (14.10.2018) until the legal offer of possession with OC/CC.
Ruling Awarded To
Appellant
Awarded Interest Rate
MCLR + 1% per annum
Interest Period
from 14.10.2018 till the date of legal offer of possession after obtaining OC/CC
Statutory Sections Cited (RERA Act 2016)
Appearing Legal Counsel & Advocates
Appellant Advocate(s)
- Ansh Agarwal
- U.K. Mishra
- S.S. Mishra
Respondent Advocate(s)
- Shobhit Mohan Shukla
- Dilip Mani
- Anup Gupta
- Neelam Gupta
Official RERA Tribunal Orders (3)
The Tribunal heard arguments regarding an appeal against a RERA order concerning the denial of interest under Section 18 due to pre-possession commercial arrangements; judgment has been reserved.
The Tribunal allowed the application for condonation of delay, converted the defective appeal into a regular appeal, and directed the respondent to file a reply within 15 days.
The Tribunal set aside the Regulatory Authority's order, ruling that 'assured returns' are a separate contractual arrangement and do not exempt a developer from paying interest for project delays. The respondent is directed to pay interest at the rate of MCLR+1% per annum from the agreed possession date (14.10.2018) until the legal offer of possession with OC/CC.
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