The Supreme Court on Thursday warned Unitech bosses of contempt if the real estate giant failed to hand over to three buyers the plots of land promised in lieu of flats in a Noida project.
Though the buyers settled out of court with Unitech, SC allowed them to come back to it if the company didn’t honour its commitment.
Unitech challenged a national consumer disputes redressal commission’s order asking it to compensate the buyers for the delay in the Burgundy project in Sector 96 of Noida in Uttar Pradesh.
The company has allocated the plots but is yet to put them in the buyers’ names. It has promised to do the registration within a year.
The Unitech chairman and directors face six months in jail if the court finds them guilty of ignoring its order.
Delay in handing over of the flats is homebuyers biggest complaint. Parliament recently gave nod a regulator for the sector to guard buyers’ interests.