NCDRC Orders, Builders Can’t Give Excuse For Delay Flats

The builders can’t give excuses for project delays, said the National Consumer Disputes Redressal Commission (NCDRC).

real estateThe apex consumer commission has ordered that a builder can’t hide their lack of responsibility by giving excuses for delay in delivering of flats to home buyers. The builders can’t hide behind the reasons like not getting approvals from authorities, difficulty in land acquisition, or any other excuse.

The builders who promise to hand over the flats/property on a particular date but fail to, they cannot give excuses for the same as they will have to pay the fine as a compensation.

The builder will also have to complete the sale-deeps along with the fine of compensation.

This action has been taken after a case happened in Haryana. The builder faced a compensation of 1 lakh per annum for delay and interest (home loan interest rate by banks) on the payment the buyers have already made to the builder, which is applicable from February 2014.

This action was much needed for the increase in their productivity so that the buyers will not have to suffer by their false promises.

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