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The Times of India
The Times of India
National
Dhananjay Mahapatra | TNN

Builders can't sell a dream to flat buyers and not fulfil it: Supreme Court

IREO New Delhi

NEW DELHI: The Supreme Court on Friday ordered a builder, IREO Pvt Ltd, to refund crores of rupees to flat buyers who wanted refund of their investment as the realtor sold a dream home with Italian marble floor, golf course view and other luxurious amenities to them in the brochure but failed to provide for the promised facilities.

The project 'Skyon' on golf course extension road in Gurugram was delayed by years and when the flat buyers, each of whom had invested in excess of Rs 2 crore, demanded refund, IREO Pvt Ltd threatened to deduct 20% of their invested money. They moved consumer court and were granted refund of the principal money with interest of 10.5% as provided under Haryana RERA.

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