26. This Court in the case of Lahiri vs. Prem Prakash- AIR 2007
(Raj.) 85 had elaborately dealt with this aspect and categorically held
that price escalation cannot be a good ground to deny the specific
performance of the contract. Relying upon various precedents from
Hon'ble Supreme Court, this Court held as under:-
10. The Hon'ble Supreme Court in P.C.Varghese's case
has held that in view of Section 22(1)(a) of the Specific Relief
Act, 1963, the court could grant a decree for partition and separate
possession of the property in addition to a decree for specific
performance of contract. In the case before the Hon'ble Surpeme
Court, the appellant had relinquished his claim in respect of the
property belonging to the minor and he also prayed for a decree for
partition and such a prayer having been allowed, the Hon'ble
Supreme Court held that no exception could be taken to the decree
of the learned trial court granting decree for partition and
possession besides the decree for specific performance. Relying
on this ration, this can be safely held that the defendant Lahiri was
entitled to sell his specified and determined 1/4th share of the
property namely agricultural land in question. Therefore, the
character of the property to be joint between the four brothers
cannot deter this court or even could not have deterred the learned
trial court in upholding such decree for specific performance.
27. On the other hand, in Satya Jain vs. Anis Ahmed Rushdie -
2013 DNJ (SC) 127 also the Hon'ble Supreme Court granted the
decree of specific performance even though the time period lapsed
in obtained the Income Tax Clearance Certificate from the Income
Tax Authorities and in that process the time lapsed did not vitiate the
Agreement and the specific performance should not be denied on
the basis of escalation of prices during the said period.
28. The judgment relied upon by the learned counsel for the
appellant-defendants in the case of Baldev Raj Chopra vs. Rakesh
Kumar - 2013(4) WLC (Raj.) 220, where, the learned Single Judge
of this Court held that the compensation instead of specific
performance would be a reasonable relief in favour of the plaintiff
was rendered in the context of it being a case of transfer of
residential house No.130, `E' Block, Sri Ganganagar, measuring
32'x50' for the consideration of Rs.40,000/- and also the court found
that the plaintiff was lacking readiness and willingness to perform his
part of the contract and, therefore, instead of specific performance,
compensation to the plaintiff would be adequate. The Court also
found that the consideration for transfer of property was inadequate.
In the case of Mrs. Saradamani Kandappan vs. Mrs.
S.Rajalakshmi & Ors.- 2011 (2) WLC (SC) 632 relied upon by the
learned counsel for the appellant-defendants, the Hon'ble Supreme
Court held that though suit for specific performance need not be
decreed merely because it is filed within the period of limitation by
ignoring the time-limits stipulated in the agreement and the Courts
will also frown upon suits which are not filed immediately after the
breach/refusal. The fact that limitation is three years does not mean
a purchaser can wait for 1 or 2 years to file a suit and obtain specific
performance. The three years period is intended to assist purchasers
in special cases, as for example, where the major part of the
consideration has been paid to the vendor and possession has been
delivered in part performance, where equity shifts in favour of the
purchaser.