Unitech Vista home buyers to get compensation after refund

Unitech

Supreme Court today declared Rs. 80,000 compensation to each of the 39 flat buyers of Unitech’s Vistas project located in Gurugram, towards the litigation charges. Flat buyers sought a compensation of Rs. 1 lakh each towards the mental harassment and litigation charges. The homebuyers had already received the principal amount along with 14 % interest by the Unitech Builders as per the previous order of Supreme Court. The Vistas project in Gurugram, was supposed to be completed and handed over in the year 2012.

These homebuyers booked flats in 2009 but Unitech failed to finish and deliver the flat on time, these buyers moved to National Consumer Disputes Redressal Commission in 2014 and the consumer forum then asked Unitech to pay principal amount with an interest of 18%. Unitech later appealed in Supreme Court.

Real estate sector is on an all time slowdown, leading to the delay in completion and handover of projects, forcing the buyers to protest and approach the courts.

The flat buyers of Amrapali Silicon City have moved to the Supreme Court challenging the NCLT insolvency proceedings against the Project. 70 flat buyers filed the petition challenging the insolvency proceedings against Amrapali Silicon City. Amrapali Silicon City is a project located in Noida. National Company Law Tribunal earlier admitted Bank of Baroda’s insolvency plea against Amrapali Silicon City over default of a loan.


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