[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Lee Jang Ho staff of |
Kamagroup Pvt. Ltd. Here I have an important INDIA REAL ESTATE news to share
with you which is as undermentioned.
Homebuyers can now seek a full refund from builders with 10% interest if the
possession of their flats is delayed beyond one year, the National Consumer
Disputes Redressal Commission (NCDRC) has ruled.
The Commission has passed this order in the wake of incessant delays the
homebuyers have to face to take the possession of their flats. The Supreme Court
and various consumer courts have in the past held that the end buyers can't be
made to wait endlessly to take the ownership of their flats, but did not give clarity
on the timeline of the refund.
Read more at: https://www.businesstoday.in/current/economy-politics/homebuyers-flat-possession-delay-builders-housing-projects-ncdrc/story/347483.html
Kamagroup Pvt. Ltd.
Have a nice day.