Slapping a penalty on Unitech Resorts for delaying handing over of flats, the Supreme Court on Monday directed it to deposit 14% interest on the ₹16.55 crore invested by 39 home buyers with it.
The 39 home buyers, who moved the court, had booked flats in Unitech’s Vista housing project in Gurugram. They had sought a refund of their principal amount of ₹16.55 crore with interest, after the developer, which had promised to give the possession by 2012, delayed it.
A Bench headed by Justice Dipak Misra said the interest will be calculated by the developer from January 1, 2010 and asked the real estate major to deposit the amount with the Apex court registry within eight weeks.
The Bench directed the registry to disburse 90% of this amount to home buyers on pro rata basis, as was done while giving refund of the principal amount.
While asking the developer to quantify the interest to be paid to each of the 39 home buyers, the Bench said the issue of compensation will be deliberated at the next hearing.
