NCDRC directs Unitech to refund over Rs 1 crore to two home buyers

The apex consumer commission has asked real estate giant Unitech Limited to refund over Rs one crore to two home buyers for failing to hand over possession of an apartment even after a delay of almost six years.

The National Consumer Disputes Redressal Commission (NCDRC) asked the company to refund within three months the amount of Rs 1,06,57,663 deposited by D Rameshbabu and Swaroop Nandakumar in Unitech's project namely 'The Exquisite' Nirvana Country 2, which was to be developed in Gurgaon.

It also directed Unitech to pay as compensation interest at 10 per cent per annum on the principal amount.

"The opposite party shall refund the entire principal amount of Rs 1,06,57,663 to the complainants along with compensation in the form of simple interest at 10 per cent per annum with effect from the date of each payment till the date of refund," the commission said.

It also asked the firm to pay Rs 25,000 as litigation cost to the two.

Nandkumar and Rameshbabu had booked a residential flat with Unitech in 2010.

As per the sale agreement, the flat was to be delivered within 36 months of its execution, which means Unitech should have handed the possession by October 20, 2013.

However, even after expiry of the stipulated period and despite payment, they did not get possession of the flat, the two homebuyers claimed in their plea.