Supreme Court of India
Neo Developers Private Limited v. Rahul Bhargava
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
With the above observation, the appeals are allowed and the parties are relegated to the HRERA, which has ample powers under Section 63 of the Real Estate (Regulation and Development) Act of 2016 read with Rule 27 of the Real Estate (Regulation and Development) Rules, 2017.
Judgment, 17
In brief
The appellant developer sold undivided, un-demarcated commercial space (Food Court area, 3rd floor) in its 'Neo Square' project at Sector 109, Dwarka Expressway, Gurugram, to the respondents under Builder Buyer Agreements and MoUs providing an assured monthly return of Rs.22,500, with the return ceasing on the first lease of the unit and rental upside/downside sharing thereafter. The assured return was initially paid and then stopped and the project was delayed, so the respondents complained to HRERA, which by order dated 14.08.2024 set aside a cancellation, directed payment of arrears of assured return until commencement of the first lease, offer of possession and conveyance after the occupation certificate, and barred charges outside the agreement; that order became final and the respondents began execution in April 2025.…
Authorities it was built on
- In Re: Interplay between Arbitration agreements under Arbitration and Conciliation Act, 1996 and Stamps Act, 1899
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