BENGALURU: In a major boost to home buyers struggling to receive their homes within the promised deadlines, the Supreme Court recently ordered a Bengaluru-based builder to reimburse the full amount of Rs 6.86 crore paid by a buyer, along with an annual interest of 9% from 2015 until 2024.
The project, Windmills of Your Mind, is located in the EPIP Zone in Whitefield. The verdict favors buyer Monica Bansal, who paid for an apartment unit on February 23, 2015. Builder Total Environment Building Systems Pvt Ltd has been ordered to compensate her for a delay of over three years in handing over the project.
The court upheld the order of the National Consumer Disputes Redressal Commission, New Delhi, which awarded compensation to Bansal on March 27, 2024. The builder had approached the apex court on July 12, 2024, challenging the commission’s order.
The initial handover date, according to the agreement, was July 30, 2016. The first extended date given by the builder for possession was January 31, 2017, which was also not honored. The commission noted that Bansal had paid more than 90% of the cost of the flat and that the buyer's choice for customization cannot justify the delay of over three years.
In their opinion, the defaulting builder cannot rely on the acquiescence of the allottee to justify or mitigate the consequences of the delay in handing over possession, as the prime consideration for the allottee is the safety of their investment, not their lack of objection.
Documents reveal that the first offer of possession made by the builder was as late as July 22, 2020, after obtaining the occupancy certificate on February 1, 2019.
Another homeowner, Suvendu Bose, has also approached the court.