Booking of the flat was made under a Construction linked
plan. The respondents are the Second Purchasers of the above stated flat
booked vide Apartment ... Company Appeal (AT) (Insolvency) No. 1380 of 2019 2 of 33
Construction linked plan but failed to pay the instalments on time, even
though time
same are reproduced:
A- No EMI-Construction Linked Plan
B- Down Payment Plan
C- Flexi Plan
D- Construction Linked Plan (CLP)
Out of these options ... plan.
14.02.2014 -opposite party issued a letter to the complainant asking him to give his consent convert EMI plan to Construction Linked Plan
amount, which, though not due to be paid under the construction linked plan, yet has paid by the Complainants and has been retained ... payments up till 15th item is time linked and thereafter it was converted to construction linked payment plan. I find force in the contention
plan is a-construction
link plan and cannot be considered a DP (Down payment)-plan,
which is independent -of construction stage, as alleged ... based on-any
stage-of construction which is not completed till that period. I
observe that for construction link plan during
amount of
Rs.5,06,000/-. The complainants chose Construction Linked Plan.
Consumer Complaint No 780 of 2018 3
As per Article ... status of the
construction and to deposit of the due instalment to the complainant.
In a Construction Linked Plan, the builder is to inform
jointly applied for an office space of 885 sq. feet under construction linked plan (Unit No.230, Block B) in the project of the Opposite ... they (complainants) accepted the terms and conditions of construction linked plan. It was denied that the complainants were in need of space to earn their
submitted that he has taken loan from the bank for
construction link plan which was to be completed by builder and builder has
been given ... home loan
sanctioned against the under construction flat has to be paid as per the
construction link plan and amount should be transferred
opted by the plaintiff appears to be a construction linked
plan and the payment ... made as per the different phases, stages of
construction however it was not a construction link plan as stands proved in
view
copy of
the Apartment Buyer‘s Agreement with a construction linked payment plan,
which is extracted hereunder :
INSTALLMENT PAYMENT PLAN
S. No. LINKED STAGES % TOTAL ... analysis of the same reveals that :
a) Under the construction-linked plan, Clause 6 provided that the
apartment buyers would be required to deposit
opposite parties have stated that the project is a
construction linked plan and the basic price of the Flat is
₹29,43,990/- and club ... opposite parties in the year 2012/2013. The
payment schedule was construction linked plan and the
opposite parties, having already received all the payment
under
