The Supreme Court on Monday directed real estate firm Unitech to deposit 14 per cent interest on ₹16.55 crore invested by 39 home buyers in its project in Gurugram by May 8.
The apex court also warned that failure to meet the deadline could invite attaching the realtor’s property. It also refused to grant more time to Unitech Residential Resorts Ltd, which has delayed handing over of flats to these home buyers.
“Let these matters be listed on May 8 by which time the amount(s) as directed on earlier occasions shall be deposited, failing which this court may think of attaching the property of the appellant company,” a Bench of Justices Dipak Misra and A.M Khanwilkar said.
When the counsel appearing for the company requested the court to extend the time for depositing money, the Bench categorically said, “let the money come“. Advocate Brajesh Kumar, representing 20 of the 39 home buyers, opposed the submission of the firm and said they should be asked to deposit the money soon.
Refund sought
The 39 home buyers had booked flats in Unitech’s Vista housing project in Gurugram. They had sought a refund of their principal amount, totalling ₹16.55 crore with interest, after the developer, which had promised to give the possession by 2012, delayed it.
The investors had told the court that they had paid money to the firm on time and the company was scheduled to hand over possession of the flats in 2012 but had not done so till date. Over two dozen home buyers of Unitech’s housing projects in Noida and Gurugram had approached the National Consumer Disputes Redressal Commission (NCDRC) after which the forum asked Unitech to refund the money with interest.
