The Supreme Court has determined that owners whose flats in Maradu high-rises, which were demolished for violating coastal zone regulations, are not entitled to interest on amounts paid by them to the builders.
A Bench led by Justice L. Nageswara Rao, in a brief judgment on Friday, recounted the flow of events, starting from the purchase of flats to its demolition. The apartments were bought between 2009-2013 by the owners. They lived in them till 2019, until they were asked to vacate due to the demolition order.
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