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Unitech Directed To Pay Rs 4 Crore To Home Buyers For Project Delay

Author: 1stKeys

NEW DELHI: The National Consumer Disputes Redressal Commission (NCDRC) has asked Gurgaon-based builder Unitech to refund around Rs 4 crore to a group of home buyers for delay in possession of their homes in Gurgaon. 

The buyers had bought apartments in Unitech's Vistas project in 2010 and had moved court after the builder failed to deliver their apartments in 36 months according to the builder-buyer agreement. 

Eight buyers had clubbed their pleas and filed a petition at the NCDRC. Among these eight said they wanted their money back along with compensation while two wanted possession of their apartments within a certain period of time and with compensation from Unitech. 

Justice VK Jain, presiding member, NCDRC and Dr BC Gupta, member, NCDRC in their order that was passed on February 8 directed Unitech to refund the amount paid to it by the complainants along with compensation in the form of simple interest at 18% per annum calculated from the date of each payment till the date the said amount is paid along with the interest in terms of this order. 

The builder has also been directed to pay Rs 5,000 as litigation charges to each buyer. Along with the principal paid by buyers and the interest amount, Unitech will have to pay nearly Rs 4 crore according to the order. 

A Unitech spokesman said: "The company's legal team is still examining the order in detail, however a similar order pertaining to the same project was challenged by the Company before the Hon'ble Supreme Court of India and after hearing the matter an interim stay has been granted on the recoveries. The matter is now sub-judice and will be decided by Supreme Court on merits." 

The spokesman also said that Unitech remains committed towards delivering its ongoing projects and has renewed its efforts to that end. 

"The company has also mobilized sufficient resources to achieve this. We are currently delivering over 300 units a month and expect to increase the pace further. Unitech has delivered over 50,000 units so far and in the last 9 months of the current fiscal, the company has completed delivery of over 3 million square feet," the spokesman said.

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