APN News

  • Friday, March, 2020| Today's Market | Current Time: 12:28:16
  • SC to Unitech: Deposit interest amount in eight weeks,disburse 90 percent of amount to 39 home buyers

    Published on February 20, 2017

    scNew Delhi:  Supreme Court has asked realtor major Unitech to deposit 14 percent interest on the principal amount of 16.55 crore rupees deposited by 39 flat buyers. The interest will be calculated from the 1st of January, 2010.

    The Court directed Unitech to deposit interest amount in eight weeks. Apex court registry was also asked to disburse 90 percent of amount to 39 home buyers.

    The home buyers of Unitech’s housing projects in Noida and Gurgaon had approached the National Consumer Disputes Redressal Commission after the builder failed to give them possession of the flats as per schedule.

    The consumer forum had asked the real estate firm to refund the money to the home buyers with interest. Unitech challenged the order of the consumer forum in the Supreme Court which last month asked the company to deposit an interim penalty of 5 crore rupees.