Those who submit their details on this portal will receive their principal amount, along with 14 per cent interest, the SC stated on Friday
In some relief to homebuyers, the Supreme Court (SC) on Friday directed setting up of a website for those seeking refund of money invested in Supertech Limited's Emerald Court project in Noida.
The portal will be set up by Amicus Curiae Advocate Gaurav Agarwal. Similar to the one ordered in the Unitech homebuyers' case, the portal will have details of all buyers, such as the money already paid by them and the refund received till date. Those who submit their details on this portal will receive their principal amount, along with 14 per cent interest, the SC stated on Friday.
The Bench led by Chief Justice of India Dipak Misra, along with Justices A M Khanwilkar and D Y Chandrachud, were informed that Supertech, the real estate giant, has already deposited Rs 20 crore with the Apex Court registry, for refunding money to homebuyers.
In August, SC had asked the firm to deposit Rs 10 crore, to refund money to investors who want to opt out. The court had also said that projects built without clearances would be demolished.
The Bench was hearing pleas pertaining to the Allahabad HC's April 11, 2014, verdict, according to which the twin towers – Apex and Ceyane – in Noida have to be demolished. The HC had also directed Supertech to refund money to homebuyers with 14 per cent interest within three months.
The HC verdict had come on the heels of a plea filed by some residents of other buildings in the locality, who had alleged that the twin towers were constructed on a green area. Of the 857 apartments in the two towers, 600 had already been sold. The Noida Authority, which is the sanctioning agency, however, had said that the clearances were in order and in accordance with the guidelines.
The matter will be heard next on October 23.
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