MARGAO
The Goa Real Estate Regulatory Authority (RERA) has directed a builder to refund the corpus fund amounting to Rs 16,95,750 to a housing society within 60 days of the order.
RERA Member Vincent D’Silva has further directed the builder to pay interest @11.10% on the sum of Rs 16,95,750 to the complainant, from the date of filing of the complaint, till its effectual recovery.
The builder is further directed to file compliance report of the order in the form of an affidavit within 60 days of this order, failing which further legal action will be initiated by the Authority under the RERA Act, for execution of the order.
In his order, the Goa RERA Member Vincent D’Silva observed “the Housing society, the complainant, having proved that the respondent has collected an amount of Rs 16,95,750 from the members of the complainant society and has not returned the same to the complainant. At the time of formation of society, the complainant is entitled for the refund of said corpus fund of Rs 16,95,750 along with interest at the rate @11.10% from the date of filing of the complaint till its recovery.”
