In a statement issued by the Supreme Court on Tuesday, it has mentioned that people who have invested their money in booking flats shouldn’t be allowed to suffer due to the poor financial state of the builder. This statement was directed towards the realtor Supertech observing its nonpayment to 17 homebuyers in Emerald Towers in Noida which is under speculation and instructed the realtor to issue payment refunds under the time period of four weeks.
An online poll conducted by the Times of
India has asked readers to state their opinion on reimbursement being fair and
over 30,000 readers voted in response to this question.
The first question asked was –If builders
are unable to complete projects in the provided time what will be the ideal
compensation?
24,482 voters said that the best way of
compensating homebuyers will be with an additional interest on the paid money
and over 4,000 people agreed with the verdict. Another 1,300 said that buyers
should get additional area & facilities as compensation would be worthwhile
with 840 insisted specifically for additional amenities on booked property will
suffice.
Second pole question was-What must be the
rate of the financial compensation for the homebuyers?
A total sum of 19,192 readers recommended a
compensation which will cover the loans taken out for buying the property.
7,000 voters said that the compensation should be arranged to match the current
fixed deposit yield. With 4,325 mentioning that a standard compensation is
sufficient.
The third question in the poll was,-who
should fix the terms and conditions of compensation?
13,000 people wanted an independent
regulatory body to fix any compensation and terms. 12,000 wanted a government
intervention and deciding terms. And 5,510 wanted an agreement between the builder
and the buyer.
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