Real estate firm directed to pay Rs 4.77 cr for 'huge delay'
Apartments booked nine years ago in Greater Noida were yet to be delivered by Unitech Reliable Projects Pvt Ltd
May 09, 2015
Source : Business Standard


New Delhi: A real estate firm has been directed by the apex consumer commission to pay Rs 4.77 crore to seven consumers for "huge delay" in handing over apartments to them noting that the builder had attempted to make profit at the cost of others. 
The National Consumer Disputes Redressal Commission bench presided by Justice J M Malik noted that the apartments booked nine years ago in Greater Noida were yet to be delivered by Unitech Reliable Projects Pvt Ltd and asked it to pay Rs 4,77,58,658 with 18 per cent interest to the seven consumers. 
"There is a magic in that little word 'home'. It is a mystic circle and surrounds comforts and virtues, never known beyond its hollowed limits. However, customers are exasperated by senseless delay made by the Builder of a colony," the commission said. 
"It must be borne in mind that there is a huge delay in handing over possession of the premises in dispute, i.E., about 9 years. The Opposite Party (builder) has made an attempt to feather its own nest, i.E., to make profits for itself, at the cost of others' expenses. The Opposite Party has utilised the amount for its own purposes," it said. 
The commission also directed the firm to pay Rs one lakh each to the complainants for harassment and mental agony. 
According to the complainants, in 2006-07, the real-estate firm had advertised for availability of flats in their projects 'Unitech Verve' in Sector Pi-II at Greater Noida in Uttar Pradesh which was scheduled to be delivered within 36 months of signing of allotment letter. 
The seven complainants said that they had applied for flats, either individually or jointly, and had paid the money demanded by the builder. 
However, after the project got delayed, they filed complaint before the commission in October 2012.
The firm submitted before the commission that it was unable to hand over the possession of apartments to them. 
It, however, submitted that it was ready to pay 10 per cent interest to the consumers as per the agreement entered into between the parties.

Latest Realty News

May 09, 2015
Mumbai: Brihan Mumbai Municipal Corporation (BMC) has, in the plan, proposed more than a three-fold increase in the total residential built-up floor area.
May 09, 2015
AGRA: The National Green Tribunal (NGT) has sought to know how some high-rise structures on the Yamuna river banks got the no-objection certificate
May 09, 2015
NASHIK: CREDAI Nashik and the Indian Institute of Architects (IIA), Nashik branch have welcomed the new proposed policy of the Transfer of Development Rights
May 09, 2015
Nagpur: Proposal for relaxing Occupancy Certificate norms which is mandatory for giving water connection to buildings
May 09, 2015
New Delhi: Realty firm Tata Housing will invest about Rs 600 crore to develop a new residential project
May 09, 2015
NEW DELHI: Every household in the city will now have have to pay a minimum environment compensation, NGT said
May 09, 2015
CHENNAI: A revival in economic sentiment, rising income levels of borrowers and cooling property prices have resulted in mortgage lenders reporting double-digit growth
May 09, 2015
NEW DELHI: Housing and Urban Poverty Alleviation Minister M Venkaiah Naidu urged ministries to fast track the approval process for real estate projects
May 09, 2015
MUMBAI:Borrowing by the construction sector actually grew to almost 20 per cent in the year ended March 31
May 08, 2015
Pune: There has been no response from the state government regarding Pune's willingness to participate in the competition for Smart City

Latest Realty News Of State

Realty Talk's