25-April-2024
Commercial Laws
 
Homebuyers to get compensation for delays in possession of apartment
19-Jan-2022

The National Consumer Disputes Redressal Commission (NCDRC) in a recent verdict held that a homebuyer is entitled to compensation for delays up to the point they receive possession of a completed unit. Possession that is offered by a builder over an incomplete unit will have no bearing in arriving at compensation, the consumer court said, noting that 'it is inconceivable that a person will not like to take physical possession of his Unit after having made the entire payment.' The ruling comes as a big relief for homebuyers who have historically avoided the legal route against builders. Vikas Mittal, after failing to get possession of his flat in a DLF Home Developers project in Delhi, decided to seek redress in the NCDRC and won. Mittal had booked a unit in the DLF project on September 2009, after depositing a booking amount of Rs 7.5 lakh. The house was to be delivered by September 2012, according to the agreement, within three years of the date of application.

News Source:- https://economictimes.indiatimes.com/industry/services/property-/-cstruction/homebuyers-to-get-compensation-for-delays-in-possession-of-apartment/articleshow/88973268.cms