Home / News / India /  NCDRC directs Unitech to pay compensation to home buyers at 8% rate

NEW DELHI : The country's apex consumer panel, the NCDRC, has directed Unitech to pay compensation to 33 home buyers, complete construction of the flats within nine months and hand over the possession to them.

The National Consumer Disputes Redressal Commission (NCDRC) has asked the real estate giant to pay compensation to the home buyers at the rate of 8% from the date committed for delivery of possession of the apartments till the day on which the possession would be offered.

It directed the company to complete construction of the flats within nine months and to hand over the possession of those to home buyers in two months of obtaining occupancy certificate.

"The opposite party, namely, Unitech Limited shall complete construction of the flats allotted to the flat buyers, in all respects, within nine months from today," NCDRC presiding member V.K. Jain said.

The panel also directed Unitech to pay 50,000 as litigation cost to the complainants. It said that any balance payable amount towards the price of the flat shall be adjusted out of the compensation payable to them.

The complainants had booked flats in Unitech's project, 'Uniworld', which was to be developed in Sector-117, Noida.

The allotments to the complainants were made on different dates in 2009, 2010 and in the year 2011. According to the allotment letters issued to them, the possession was to be delivered to the allottees within 36 months.

The complainants alleged that they were not offered possession despite having made substantial payment to Unitech.

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