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Supreme Court Asks Greater Noida To Refund 66 Crores To Unitech Buyers.

Courtesy/By: Subhalagna Choudhury | 14 Sep 2018

The Supreme Court on September 10, 2028 directed a local authority in Uttar Pradesh to deposit Rs 66.82 crores received from realty firm UnitechLtd. The money should be deposited to its registry to compensate those who have opted out of its housing schemes in the area of Greater Noida. The bench was being headed by Justice DipakMisra, Justice AM Khanwilkar and Justice DY Chandrachud. The bench held that the people who had booked their plots in the project could go to consumer court for redressal of their grievances. Lawyer Pawan Shree Agrawal was assisting the court as Amicus Curiae for verification of names and other details of plot applicants, who claimed refund of their money.

Senior advocateMukulRohtagi was appearing for Unitech Ltd who said that 100 acres of land was actually allotted to developer and the developer was supposed to submit Rs555 Crore to Greater Noida Authority. So far, 325 crores have been paid. This also includes stamp duty. It is to be mentioned here that around 350 people had applied for the plots in the housing complex. The next hearing as decided by the court would be on September 18, 2018. The court further advised the aggrieved people to move to consumer courts and said that their grievances would be addressed in due course.

Courtesy/By: Subhalagna Choudhury | 14 Sep 2018