Builder to pay back cost of flat with 18% interest
The new Real Estate Regulation Act will be a god sent bonus for the consumers. It will safeguard the rights of the common man or consumers. Recently the National Consumer Disputes Redressal Commission ordered Unitech builders to pay back Rs.65.36 lakh with interest because he failed to deliver flat in due time. Keeping in mind the weird behaviour of the builder, the apex court also imposed Rs. 50,000 which he has to pay within the 90 days of this order, failed to which he has to pay 9% interest annually.
The case was filed by Navneet Chabra of Ludhiana, who bought a flat from Unitech in greater Noida, Builder agreed to give flats within 36 months. Then Navneet approached the Court for justice.
During the procedings the counsel for the builder assured the complainant that he is ready to give alternative flat to the complainant, but his counsel did not agree to it.