Emerald Hills Sector 65

By: Rohit | June 09, 2015

Vimal Chander Joshi Vimal Chander Joshi,TNN |Jun 9, 2015, 02.44 AM IST


GURGAON: In a landmark ruling, the National Consumer Disputes Redressal Commission (NCDRC) on Monday asked real estate major Unitech to pay buyers compensation at the rate of 12% per annum for delay in delivery of flats, overruling the builder-buyer agreement that had set the rate at 1.8% per annum.

The order came in a case filed by 24 buyers of a housing project, Vistas, in Sector 70 of Gurgaon. The buyers alleged that they had booked the flats in 2009-10 and delivery was promised in 36 months.

In his order, Justice V K Jain directed the company to pay compensation at the rate of 12% per annum on the amount paid for the period from the date of delivery originally...