Advocate Sushila
SUPREME COURT HOLDS SUBSEQUENT PURCHASER HAS SAME RIGHTS AS ORIGINAL ALLOTTEE
Advocate Sushila Ram 25 Jul 2021

SUPREME COURT HOLDS SUBSEQUENT PURCHASER HAS SAME RIGHTS AS ORIGINAL ALLOTTEE

The #SupremeCourt has in a recent case of M/s Laureate Buildwell Pvt. Ltd. vs. Charanjeet Singh passed an Order 22-07-2021, where the Apex Court decided upon the issue of #nature and #relief of an #originalallottee and a #subsequentpurchaser of a #flat that is yet to be completed by a #builder.


In this case, Ms. Madhabi Venkatraman (Original Allottee) applied for allotment of a residential flat No. 7013 admeasuring 4545 sq. ft., in Nectarine Tower “PARX LAUREATE” at Sector- 108, Expressway, Noida (Flat) on 29-08-2012. The Flat was under construction by the builder, M/s Laureate Buildwell Pvt. Ltd. (Builder). The Original Allottee paid the registration amount of Rs. 7,00,000/- and further deposit of Rs. 32,33,657/- out of the total sale consideration of Rs. 2,47,29,405/- for the said Flat. Thereafter, the Builder issued an Allotment Letter dated 16-10-2012, which stated that the possession of the new Flat would be handed over to the Original Allottee within 36 months of the issue of Allotment Letter, i.e. on or before 15-10-2015. Thereafter, the Original Allottee made payment of the first 7 instalments to the tune of Rs. 1,55,89,329/- to the Builder (Paid Amount). However, when the Original Allottee observed the slow pace of construction of the Flat in February 2015, she decided to sell the Flat to a third party.


To read more, please visit the link below:


https://theindianlawyer.in/supreme-court-holds-subsequent-purchaser-has-same-rights-as-original-allottee/


#supremecourt #purchaser #allottee #builder

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