NCDRC orders Unitech to refund homebuyers' money with 10 per cent interest
NCDRC orders Unitech to refund homebuyers' money with 10 per cent interest
Akanksha Gupta
NCDRC orders Unitech to refund homebuyers' money with 10 per cent interest
Photo: CitySpidey

NCDRC orders Unitech to refund homebuyers' money with 10 per cent interest

The National Consumer Disputes Redressal Commission (NCDRC) ordered the real estate firm, Unitech Limited, to refund Rs. 1,06,57,663 along with 10 percent interest per annum to two homebuyers for failing to hand over possession around 6 years back. The court also said that the payment shall be made within three months from the date of order.

The order came after the homebuyers, D Rameshbabu and Swaroop Nandakumar, pleaded that the builder has failed to deliver the project, The Exquisite Nirvana Country-2, which was to be developed in Gurugram.

According to the plea, the homebuyers booked a residential flat with the Unitech in 2010 and the possession was to be delivered within 36 months of its execution. The homebuyers said that the payment was made to the builder. Since the possession of the allotted flat has not been offered to them, they are entitled to receive the amount that they had paid to the builder, along with appropriate compensation.

"The Opposition Party shall refund the entire principal amount of Rs.1,06,57,663 to the complainants along with compensation in the form of simple interest @ 10% per annum with effect from the date of each payment till the date of refund," the court order said.

It also said that the opposition party shall also pay a sum of Rs.25,000 as the cost of litigation to the complainants.

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