SC tells Unitech to pay interest to flat buyers

Supreme Court

 New Delhi, Feb 20: The Supreme Court on Monday directed real estate major Unitech to pay interest to 39 flat buyers who chose to withdraw following the builder’s failure to complete project as promised.

The order came in the connection of the owners who booked flats in Unitech’s Vistas project in Gurugram in Haryana.

A bench chaired by Justice Dipak Misra, Justice A.M. Khanwilkar and Justice Mohan M. Shantanagouder gave the builder eight weeks to deposit the interest at the rate of 14 per cent to the top court’s registry.

The interest would be calculated from January 1, 2010 till Unitech deposited the principal amount.

The court said 90 per cent of the interest amount that would be deposited with its registry would be disbursed to the 39 buyers who have opted out.

Wefornews Bureau

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