Con­cerned over ‘tears’ of home buy­ers: SC

Millennium Post - - FRONT PAGE -

NEW DELHI: The Supreme Court on Wed­nes­day ex­pressed an­guish over the “tears” of home buy­ers say­ing they can­not be “taken for a ride” by the builders, as it di­rected the Jaypee group to give Rs 50 lakh as in­terim com­pen­sa­tion to its cus­tomers for de­lay­ing giv­ing them pos­ses­sion.

It also said the home buy­ers can­not be treated as nor­mal in­vestors as they spend their hard­earned money on their homes.

The apex court had ear­lier di­rected Jaiprakash As­so­ci­ates Ltd to de­posit Rs 4 crore with the bank to be kept as short- term fixed de­posit and give pos­ses­sion of flats to the home buy­ers in its Ka­lypso Court project on the Noida-greater Noida Ex­press­way.

The real es­tate firm has chal­lenged the or­der of May 2, 2016, Na­tional Con­sumer Dis­putes Re­dres­sal Com­mis­sion (NCDRC) im­pos­ing a penalty of 12 per cent per an­num for the de­lay in giv­ing pos­ses­sion of homes to buy­ers.

“We are con­cerned about the tears of the home buy­ers who can­not be taken for a ride by builders. They can­not be taken as a nor­mal in­vestor ... they spend their hard earn­ings for the homes,” a bench of Chief Justice Di­pak Misra said.

As an in­terim mea­sure, the bench, also com­pris­ing Jus­tices Ami­tava Roy and A M Khan­wilkar, di­rected the firm to give Rs 50 lakh as in­ter­est to the ten flat buy­ers who are be­fore it till the fi­nal ad­ju­di­ca­tion of plea.

The coun­sel for the flat buy­ers said they were handed the flats in 2016, though th­ese were to be given in 2011 and said that the in­ter­est com­po­nent needed to ad­ju­di­cated.

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