PATNA: The Bihar Real Estate Regulatory Authority (RERA) on Friday asked a city-based builder to refund the Rs33.01 lakh to a buyer in three instalments within two months for not completing the apartment flat within the time frame promised. The builder has been asked to pay the interest at the rate of marginal cost of lending rate (MCLR) of State Bank of India.The bench of RERA Bihar members Rajiva Bhushan Sinha and Subodh Kumar passed the order on a complaint lodged by Kundan Kumar and Jyoti Kumari on May 15 against the managing director of Nesh India Infrastructure Pvt Ltd. The complainants stated they had booked a flat in AG Enclave at Khagaul on August 24, 2016 and paid Rs30.01 lakh after signing the agreement with the builder.The complainants further stated that at the time of booking, the super structure of the block was complete and almost 90% brick partition work of the flat was done. For the plaster inside the flat, they paid Rs3 lakh on April 2, 2017 as per schedule-C of the agreement. They had to pay Rs8 lakh by July the same year as the flat was to complete by then.The complainants said they wrote a letter to the builder in June and another in August 2017 making it clear that further payment would be withheld before completing the flat. The builder wrote a letter on September 4, 2017 asking for full payment with GST before September 20, 2017. Later, in February this year, the builder asked for full payment within 15 days failing which they would cancel the booking and forfeit the advance amount paid without any further notice to the buyer.According to the complaint, when the complainants met the company’s managing director in March and asked to complete the flat or return the amount paid by them with 11% interest as per the Clause 12 of the agreement, he refused to refund the money.“The RERA is to safeguard the interest of the buyers,” Rajiva said.

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