Appellant / Complainant
Rajiv Sharma, Gauri Sharma
Respondent
Vxl Realtors Pvt Ltd, Red Cee Constructions Pvt. Ltd. Vxl Realtors Pvt Ltd
vxl realtors pvt. ltd.
Appellant
Legal Issues & Claims Raised
Case Procedural History & Progression Tree
Visual step-by-step tree detailing dispute origin, interim hearings, and final tribunal ruling.
Complaint Filing & Dispute Registration
Complaint registered under Case ID 0901126058792022 by Rajiv Sharma, Gauri Sharma against Vxl Realtors Pvt Ltd, Red Cee Constructions Pvt. Ltd. Vxl Realtors Pvt Ltd before up_rera.
Re-Hearing
The Tribunal modified the Adjudicating Officer's order to rule that after the enforcement of the Real Estate (Regulation and Development) Act 2016, the interest rate for defaults by either the promoter or the allottee must be the prescribed rate of MCLR+1%, superseding any higher contractual rates.
For Order
The Tribunal heard arguments from both counsels regarding Appeal-798/2022 and has reserved the judgment for further consideration.
For Order
The Tribunal granted an adjournment to both counsels to allow them time to refer to supporting judgments and listed the appeal for further hearing on 28.08.2024.
For Order
This is a procedural order directing the parties to refer to previous orders passed in Appeal No. 794/2022.
For Order
The Tribunal granted an adjournment requested by the appellant's counsel to examine specific directions from the Adjudicating Officer and rescheduled the hearing for 15.04.2024.
For Order
The Tribunal noted that pleadings have been exchanged and, due to the respondent's counsel being on leave, adjourned the matter for hearing to 11.03.2024.
For Order
The Tribunal has ordered the appeal to be listed for orders or hearing on November 3, 2023.
For Order
The Tribunal granted the appellant one week to file a reply to the respondent's objections and scheduled the next hearing for September 21, 2023.
For Order
The Tribunal has listed Appeal-798/2022 for orders or hearing on 24.05.2023, referencing a previous order passed in Appeal No. 794/2022.
For Order
The Tribunal granted the appellant's request to issue fresh notice to the respondent and directed the appellant to serve the notice via speed post and email, with the matter listed for 12.04.2023.
For Order
The Tribunal granted a 10-day extension to the appellant's counsel to file an affidavit of service, warning that failure to comply will result in heavy costs.
Notice
The Tribunal granted a one-week extension to the appellant's counsel to file an affidavit of service and adjourned the matter to 11.01.2023 following a request for adjournment.
Admission
The Tribunal issued a notice to the respondent and established a procedural timeline for service of appeal documents and the filing of objections/replies via e-mail and the e-portal.
Tribunal Order #0901126058792022-10-03-2025
The Tribunal modified the Adjudicating Officer's order to rule that after the enforcement of the Real Estate (Regulation and Development) Act 2016, the interest rate for defaults by either the promoter or the allottee must be the prescribed rate of MCLR+1%, superseding any higher contractual rates.
Tribunal Disposal & Final Award Ruling
The Tribunal modified the Adjudicating Officer's order to rule that after the enforcement of the Real Estate (Regulation and Development) Act 2016, the interest rate for defaults by either the promoter or the allottee must be the prescribed rate of MCLR+1%, superseding any higher contractual rates. Awarded in favor of Appellant. Awarded interest rate: MCLR+1%.
Final Tribunal Order & Ruling Verdict Summary
Official Ruling Summary
The Tribunal modified the Adjudicating Officer's order to rule that after the enforcement of the Real Estate (Regulation and Development) Act 2016, the interest rate for defaults by either the promoter or the allottee must be the prescribed rate of MCLR+1%, superseding any higher contractual rates.
Ruling Awarded To
Appellant
Awarded Interest Rate
MCLR+1%
Statutory Sections Cited (RERA Act 2016)
Appearing Legal Counsel & Advocates
Appellant Advocate(s)
- Amit Yadav
- Bal Kishor Verma
Respondent Advocate(s)
- Azhar Ikram
- Manish Singh
Official RERA Tribunal Orders (1)
The Tribunal modified the Adjudicating Officer's order to rule that after the enforcement of the Real Estate (Regulation and Development) Act 2016, the interest rate for defaults by either the promoter or the allottee must be the prescribed rate of MCLR+1%, superseding any higher contractual rates.
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