10 Jaypee Kalypso buyers will get Rs 5 lakh each for delayed possession
10 Jaypee Kalypso buyers will get Rs 5 lakh each for delayed possession
Ramesh Kumar
10 Jaypee Kalypso buyers will get Rs 5 lakh each for delayed possession Image used for representational purposes only
Photo: Propfrill.com

10 Jaypee Kalypso buyers will get Rs 5 lakh each for delayed possession

In another jolt to the Jaypee Group, the Supreme Court on Wednesday ordered it to compensate 10 homebuyers of Jaypee Kalypso fighting a case of delayed possession against it. Each of these buyers is to be given Rs 5 lakh as compensation.

These 10 homebuyers had moved the National Consumers Disputes Redressal Commission (NCRDC) last year against the delayed possession of flats in this stalled project on the expressway. In its verdict, NCRDC had directed the builder to return the amount taken from them for parking and super area with 12 per cent interest. It had also told the builder that it would have to ensure that the buyers were given parking space. Besides, since possession was due in May 2016 and the builder had said it would complete the project in a month, NCRDC had directed it to pay Rs 5,000 per day to each buyer till they actually got possession of their flats.

However, Jaypee had challenged this verdict in the Supreme Court, with the court putting a stay on the compensation amount and interest. It had, however, ordered the builder to deposit Rs 4 crore before the court to compensate the buyers for the delay in possession.  

After hearing the case today, the Supreme Court ordered the developer to deposit another Rs 50 lakh before the court for compensating the 10 homebuyers.