Builder Fails To Provide Monthly Returns On Booked Unit, Haryana RERA Orders Refund To Complainant

The Haryana Real Estate Regulatory Authority, presided by Sanjeev Kumar Arora, directed the builder of Landmark Cyber Park, Gurgaon, to refund Rs. 46,00,000 to the complainant for failing to honor the monthly assured return of Rs. 46,000 as per the Memorandum of Understanding (MOU). \r

Despite the absence of a Builder Buyer Agreement, the Authority referenced the Supreme Court's Pioneer Urban Land case, determining the possession date as three years from the MOU's signing. With possession granted on 26.12.2018 and the complaint filed on 18.02.2022, the Authority applied regulations to limit forfeiture of earnest money to 10% of the consideration amount, directing the refund with 10.85% annual interest.