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Relief for Supertech flat buyers

Courtesy/By: Saurav Tibrewal | 28 Oct 2017

The Supreme Court has taken a tough stand on the refund of the buyers of flat in the Supertech Project at Noida in Uttar Pradesh whose demolition was ordered by the Allahabad High Court. The court ordered its registry to disburse the principal amount to those who have already deposited the amount with the builders but have not received any refund. The builder was asked to deposit Rs 20 crore with its registry and now is utilising the amount to refund the buyers.

Earlier Allahabad high court has directed to demolish the structure terming it as illegal and reality major to refund money to home buyers with 14 per cent interest in three months. The High Court's verdict had come on the plea of some residents of other buildings who had alleged that the twin towers were constructed on a green area. The towers have 857 apartments, of which about 600 flats have already been sold.

The bench has appointed Amicus Curiae Agarawal to ensure the completition of the procedure.

Courtesy/By: Saurav Tibrewal | 28 Oct 2017