Builders cannot sell a dream to flat buyers and not fulfil it: SC
Dhananjay.Mahapatra@timesgroup.com
22.0.2022
New Delhi: The Supreme Court on Friday ordered a builder, IREO Pvt Ltd, to refund crores of rupees to flat buyers who wanted refund of their investment as the realtor sold a dream home with Italian marble floor, golf course view and other luxurious amenities to them in the brochure but failed to provide for the promised facilities.
The project ‘Skyon’ on golf course extension road in Gurugram was delayed by years and when the flat buyers, each of whom had invested in excess of ₹2 crore, demanded re-fund, IREO Pvt Ltd threatened to deduct 20% of their invested money. They moved consumer court and were granted refund of the principal money with interest of 10. 5% as provided under Haryana RERA.
IREO through Ankur Seh- gal appealed against the decision of the NCDRC before the SC. Sehgal said that there is a green belt provided by the builder but there was no golf course. The bench said, “You (builder) sell a dream to the home buyers but do not provide the promised amenities. When the promised amenities are not provided, they are entitled to a refund of their investments with interest. ” The SC agreed that such deviations entitled the flat buyers to demand refund and upheld the NCDRC order. IREO now has to pay back ₹2. 2 crore to one flat buyer and another ₹ 4. 68 crore, both with interest of 10. 5%.
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