Soon, it will be easier to get a refund if your builder goes bankrupt

You're on a par with other financial creditors, including banks; no one can touch the house of which your builder has yet to give you possession

In an ongoing dispute between distraught homebuyers and Gayatri Hospitality & Realcon Ltd, a realty firm in Noida, the former claim that the latter has not so much as laid a brick in Gayatri Aura, a project it launched way back in 2011. The company has been booked for cheating, fraud, and forgery following a complaint by the flat owners.

Sunil Kumar, who represents a few buyers, told Business Standard that the realty firm was to build 1,500 homes for which it was 17.5 acres in Sector-1 of Noida Extension. "Each buyer has so far paid Rs 1.6 million (Rs