Minister of state for information and broadcasting Rajyavardhan Singh Rathore is set to get possession of his new flat in Gurgaon after a wait of seven years and a court battle.
The Supreme Court ordered Parsvnath builders on Friday to hand over the flat’s possession to Rathore in two days, and said the minister will not pay any more amount to the developer. A bench headed by Justice Dipak Misra said Rathore was also entitled to compensation, the amount of which will be decided at a later stage.
The minister is just one among thousands of homebuyers who have been left in the lurch as a cash-strapped real estate sector struggles to stick to project delivery deadlines in a depressed market. The minister’s travails only underline the challenge ordinary citizens face in getting possession of their new homes.
Rathore had booked a flat in Parsvnath’s Exotica project in Gurgaon in 2006 and paid around Rs 70 lakh for it. After the company failed to complete the flat’s construction by 2009, Rathore moved the National Consumer Disputes Redressal Commission that asked the developer to refund the principal amount with interest. The minister was also compensated for delayed possession.
Real estate firms have come under strict judicial scrutiny with the top court asking them to refund money to the consumers for not completing their housing projects within the promised deadline.
The top court had on October 18 directed its registry to disburse Rs 22 crore to 70 home buyers who had booked flats in Parsvnath’s Exotica project in Ghaziabad. The firm has already deposited Rs 12 crore and has been given time till December 10 to pay the balance amount.