ORDER

According to the Complainants on 19.09.2012, they applied for allotment of a residential unit in the project “Sovereign Floors”, Esencia, Sector-67, Gurgaon Haryana developed by the Opposite Party. The unit was booked for residential purpose of the Complainants. The Opposite Party allotted residential unit No.D-1567-SF, 2nd Floor, vide allotment letter dated 26.09.2012. Consideration payable was Rs.1,60,00,000/- for the 2198 sq. ft. unit. Pursuant to the allotment letter, the Complainants and Opposite Party signed Floor Buyer Agreement dated 05.10.2012. According to the Agreement, in case of delay in payment, the Complainants were required to pay interest @ 18% p.a. for three months and 21% p.a. beyond the delay of three months. Possession of the unit was to be handed over within 36 months from the date of the agreement with an extension of 6 months, subject to receipt of requisite building plans, approvals, permissions and force majeure etc. In case of failure to deliver possession within 36 months, the Opposite Party was required to pay delay compensation @ Rs.10/- per sq. ft. per month of the total super area of the unit. The Complainants, vide letter dated 08.10.2012 requ