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In a big decision that might help people buying homes from real estate companies, a man named Sushil Tikku and his wife won a case against Ambika Realcon Pvt Ltd. The commission told the real estate company to pay Rs 1 lakh because they canceled the couple's flat even after getting more than 80% of the money. The company also needs to pay Rs 35,000 for the Tikku family's legal costs within 30 days.
The Tikku family shared their concern that they had bought a flat of 1,370 square feet size, with a bigger area of 2020 square feet, at Florence Park, New Chandigarh, Mohali, from Ambika Realcon Pvt Ltd on August 20, 2021. They had paid a substantial amount of money, which added up to Rs 72.13 lakh by December 2, 2022, out of the full cost of Rs 87.03 lakh. Unexpectedly, the real estate firm decided to cancel their allocation for the flat on November 30, 2022.
Ambika Realcon Pvt Ltd defended their actions by stating that the Tikku family hadn't consistently kept up with their payments and had neglected reminders sent to them. However, the commission took the Tikku family's side despite this. The commission ordered the real estate company to let the family have the flat within six months. But there was a condition: the firm had to first receive the remaining payment of Rs 14.89 lakh from the Tikku family.
What's more, the company couldn't ask for extra money due to the delay caused by their decision to cancel earlier. This decision brings hope to other people who want to buy homes and might end up facing a similar situation with a real estate company. The ruling shows that real estate firms should be accountable for their actions and can't just cancel flat allocations without a good reason, especially when buyers have paid most of the money. It also means that buyers' rights are protected, and if the company isn't doing its part, the law can step in to make things right.
Sushil Tikku and his wife Sunita Tikku's case sets a good example for others in a similar situation. It shows that if someone has followed their end of the deal by paying most of the money as agreed, the real estate company can't simply take back the flat without facing consequences. This verdict makes it clear that fairness matters, and both sides of a deal must stick to their commitments.
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