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Receipt of cash is payment

As builder had not disputed payment of cash, amount can be treated as received, the Commission said

Jehangir B Gai 

It is common for builders to take a certain percentage in cash while booking a flat. When a buyer seeks refund, this ‘black component’ is invariably lost as there is no proof of payment.   M Jayachandran had booked a villa in a project by Sri Renga Property Developers at Coimbatore by paying an advance of Rs 10 lakh in cash. Later, an agreement for sale was executed on March 25, 2010 according to which the villa, with a carpet area of 2,050 sq ft and super built up area of 2,600 sq ft, was to be sold for Rs 76.5 lakh. Subsequently, a sale deed for the land was executed on ...

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First Published: Thu, March 30 2017. 00:06 IST
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