Builders have developed attitude of not fulfilling promises: SC

October 18, 2016 19:36

Real-estate firms today got a rap on their knuckles from the Supreme Court for making tall claims to purchasers which remained unfulfilled due to inordinate delay in completing the housing projects.

"In this country, builders have developed an attitude to make committments to the purchasers and not fulfill them by delaying the projects," a bench headed by Justice Dipak Misra said.

The apex court's observation came after real estate firm Parsvnath Buildwell Pvt Ltd said it will give flats to 70 home buyers, who are before the court, by December 17.

"They (home buyers) do not have patience and trust in you and need refund. Money should go back to them and they should not suffer," the bench also comprising Justices Amitava Roy and A M Khanwilkar said.

The bench, also pulled up the realty firm for seeking time to deposit additional Rs 10 crore, asking "why do you get into all this business when you can't pay back the money? You have to give back the money to home buyers."

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