Consumers are entitled to timely possession of purchased property and cannot wait indefinitely for possession; failure to deliver justifies a refund with interest.

1. The present Consumer Complaint has been filed Under S.21 read with S.12(1)(a) of the Consumer Protection Act , 1986 (for short "the Act") by the Complainants against the Opposite Party, M/s. Ansal Housing & Construction Ltd. (hereinafter referred to as the "Developer") seeking refund of 82,89,574 paid by the Complainants towards purchase of the Residential Apartment in the Project of the Developer, i.e. "Ansal Highland Park", along with interest and costs as the Developer has miserably failed to hand over the possession of the booked Apartment within the prescribed time.

2. The facts leading upto the present Complaint are that on 6.12.2012, the Complainants had booked a Residential Apartment in the Group Housing Project, namely, "ANSAL HIGHLAND PARK", proposed to be developed by the Developer at Sector 103, Gurgaon, Haryana. The Apartment Buyer's Agreement (hereinafter referred to as "the Agreement") was executed between the parties on 4.4.2013. Complainants were allotted Unit No. EDNBG - 1502, having approximate Sale Area of 1940 sq. ft. at the basic rate of 4,909.28 per sq. ft. for total Sale Consideration of 1,02,31,440 including charges for EDC, IDC, PLC and Club Membership Charges. The allotment of the Apartment was confirmed by letter dated 22.12.2014, wherein the Developer had incorrectly mentioned date of booking as 5.4.2013, whereas originally the Apartment was booked on 6.12.2012.

3. As per Clause 31 of the Agreement, possession of the booked Unit was to be handed over to the Complainants within 48 months from the date of execution of the Agreement or within 48 months from the date of obtaining all the required sanctions and approval necessary for commencement of constructions, whichever is later, along with grace period of six months. According to the Complainants, the possession of the booked Apartment was to be delivered by the Developer latest by 4.10.2017 including the grace period of six months. The Complainants had paid an amount of 82,89,574, i.e. 83% of the total Sale Consideration towards the purchase of the Apartment to the Developer, however, despite having received such a huge amount, they have failed to deliver the possession in terms of the Agreement. The Complainants have obtained the Home Loan of 55,00,000 from the Housing Development Finance Corporation Limited (for short, "the HDFC") at the interest rate of 10.50% p.a. to ensure timely payment to the Developer but because of mala fide act of the Developer, they are under a financial burden as they have to pay the instalment of the loan amount of the Apartment which is nowhere near completion. It is stated by the Complainant that the Developer has stalled the work of the Project. It is alleged that the Developer continued to collect significant amount of money from the Complainants even when they were not in a position to handover timely possession and till date they are not in a position to inform the excat date of handing over the possession of the Apartment. It is further stated by the Complainant that the terms and conditions of the Agreement are one - sided, unjust, unfair and arbitrary. The Developer has no reasonable justification for the inordinate delay in construction of the Project and none of the circumstances resulting in delay were beyond their control. The Developer had fraudulently diverted the funds collected from the Complainants and other Buyers to its some other Projects. It is stated that the Complainants have spent valuable time and resources while visiting the off