Tricity
Mohali builder must refund 16 lakh rupees for seller‑buyer agreement breach
A builder has been ordered to refund ₹16 lakh for failing to execute the seller‑buyer agreement. A panel noted the project had not progressed as represented and GMADA revoked its development licence due to non‑payment of government dues.
Builder ordered to refund 16 lakh rupees for seller‑buyer agreement breach
Mohali: A builder has been ordered to refund ₹16 lakh to a buyer after failing to execute the seller‑buyer agreement.
The seller‑buyer agreement is a legally binding contract that obliges a developer to deliver the property as specified, and failure to fulfill its terms can attract financial penalties.
The order was issued by a panel that reviewed the dispute and found that the project had not progressed as represented in the agreement.
Panel findings on project progress
Panel findings indicated that the construction work remained incomplete and the developer did not meet the milestones stipulated in the seller‑buyer contract, prompting the refund directive.
GMADA licence revocation
GMADA cancelled the development licence because the builder had not paid the required government dues, adding another layer of consequence to the contractual breach.
The combined penalty of a ₹16 lakh refund and licence revocation underscores the importance of adhering to contractual obligations and settling statutory payments promptly in Mohali’s real‑estate sector.
Source: source
