Economy

Supreme Court orders Unitech to compensate homebuyers for litigation costs

Supreme Court orders Unitech to compensate homebuyers for litigation costs”

The Supreme Court today awarded Rs 80,000 compensation each to 39 flat buyers of Unitech's Vistas project in Gurgaon, towards litigation cost.

The 39 buyers had sought Rs 2 lakh each for the mental agony.

It directed advocate Pawan Shree Agrawal, who is assisting the court as amicus curiae, to create a website by September 21, in which the home buyers could upload their claims for possession of flats or to get their money back.

The directive had come on a Unitech appeal against a June 2015 order of the National Consumer Disputes Redressal Commission (NCDRC) directing it to pay 12 per cent interest on the flat cost for failing to deliver possession till then despite having promised to do so in 2012.

Earlier, the firm had told the court that it has complied with the direction on refund of principal and interest to the home buyers of its Gurugram's project.

On 24 April, the apex court had directed Unitech to deposit 14% interest on Rs16.55 crore invested by the 39 homebuyers at its project in Gurugram by 8 May.

The real estate sector is facing a multi-year slowdown, leading to delays in handover of projects, forcing buyers to protest on streets and approach courts.

The apex court last Friday refused to grant interim bail to the jailed promoters Sanjay Chandra and Ajay Chandra and said their pleas will beconsidered only after the data of homebuyers seeking refund is collated. media reported.



Like this

loading...
loading...

Latest


21 September 2017
Jimmy Kimmel slams senator for lying about new health care bill
They're counting on you to be so overwhelmed with all the information, you just trust them to take care of you. Watch the whole thing-even if Kimmel isn't your preferred late-night host, you'll be cheering by the end.

21 September 2017
Indians Shut Brantley Down For A Week
He was named an All-Star after a solid first half, the second time being recognized with said honor after he did so in 2014. Brantley has not played since August 8 after spraining his right ankle in the outfield against the Colorado Rockies.

21 September 2017
Teacher Asks Fifth Graders to Imagine and Justify Being KKK Members
Students at Oak Pointe Elementary School in Irmo were asked in their homework: "You are a member of the KKK". Underneath the first question is another which says "You are there.you are a freedman".

21 September 2017
'Gossip Girl' Had Scenes That Were Too Racy to Air
He ends up finishing the series by getting married and goes on to live happily ever after with Blair, apparently facing no repurcussions.

21 September 2017
The world's first sand hotel opens on the Gold Coast
While only a select few will actually be able to stay in the Sand Hostel , the property opened its doors from noon to 10 p.m. A hotel built entirely from sand has opened on the Gold Coast, giving the term "beach house" a whole new meaning.

21 September 2017
Puerto Rican TJC student thankful family is safe after Maria
It's the cryptic call Lynnet Figueroa got from one of her several family members who are sitting in the path of Hurricane Maria . But no deaths have been reported on the USA territory. "My coach and the girls keep asking me how I'm doing", she said.

21 September 2017
President Trump has military options for North Korea
You've got a United Nations that is action oriented, we've passed two resolutions on North Korea just in the last month. Washington has tried to work with Beijing to restrain the latter's ally in Pyongyang through economic sanctions.

21 September 2017
Tillerson calls for more limits on Iran's nuclear program
During an interview with Fox News, US Secretary of State Rex Tillerson said that Washington is interested in changing the Iranian nuclear deal.

21 September 2017
United Kingdom retailer installs 'world's first' finger vein payment system
Instead of reading your fingerprint, however, the technology uses the unique pattern of veins underneath the skin on the fingertip.

21 September 2017
Gal Gadot's Wonder Woman will appear in 'Flashpoint'
Flashpoint is expected to come out sometime in 2020, but we can check out all the characters in Justice League on November 17. Gal Gadot probably won't mind being known as Wonder Woman for the rest of her life, but she's still going to branch out.