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NCDRC orders Ramprastha builders to refund buyers money with 12 interest

first_imgGurugram: In a major relief to the buyers who had invested in Ramprastha Builders to get their flats, the national consumer disputes redressal commission (NCDRC) said. Court passed judgement to refund money to 7 buyers with 12 per cent interest.Each home buyer will get Rs 1.3 crore from the builder. There are more than 350 builders who are waiting for the judgement in their favour. The homebuyers who had purchased apartments in Ramprasth’s skyys housing society did not get the possession of the houses due to repeated delay by the builder. Ultimately it led to the distressed homebuyers to take legal recourse. To make sure that the buyer’s money is protected and is not exploited by the builder a separate account will be created and will not be utilised in other projects as instructed by Department of Town and Country Planning (DTCP). It has also been stated that for drawing the money there have to be designated signatories. Also in case of fraud, the bank officials will be held equally liable. It is estimated that the Rs 10,160 crore are pending by the builders who have not been able to complete their projects on time. Now the DTCP is preparing the list of builders so that cash in on their bank guarantee that is estimated to be of Rs 1627 crores. The enforcement directorate of Gurugram has already described the owner of Universal builders as an absconder. It was found that Rs 300 crores of homebuyers are struck in a residential project in Gurugram’s Sector-82 named Aura. The project that was started in 2010 was stopped in 2015. In effect over 500 homebuyers who invested in the project have alleged that the builders have amassed over Rs 300 crore in the amount that have not been refunded. To prevent a situation wherein the builders who have defaulted on the payments, the DTCP had begun the process of making a note of these builders. Significant information that includes detail of aadhar and PAN card, passport are being obtained to prevent any eventualities of builders leaving the country.last_img

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