Supreme Court Orders Completion of Construction within One Year in ET RealEstate Case
The Supreme Court has directed the completion of construction within one year in a case related to ET RealEstate. The order pertains to a residential project in Gurugram that had been delayed for over a decade. The petitioners, homebuyers who had invested in the project, had approached the Court seeking compensation and completion of construction. The apex court observed that the inordinate delay had caused immense hardship to the buyers and that the developers were in breach of their contractual obligations. The Court directed ET RealEstate to mobilize resources and complete the construction within one year’s time. It also ordered the company to submit a quarterly progress report to the Court. Failure to comply with the order may result in contempt of court proceedings. The order is a significant victory for homebuyers who have been waiting for years to receive possession of their flats. It also sets a precedent for the timely completion of real estate projects and holds developers accountable for their actions. The Court’s directive has sent shockwaves through the real estate industry. Experts believe that it will have far-reaching implications for developers and buyers alike. Developers will now be under pressure to deliver projects on time, while buyers will have greater recourse in case of delays. The ET RealEstate case highlights the importance of consumer protection in the real estate sector. The Court’s intervention has ensured that homebuyers are not left stranded due to unscrupulous developers. It is hoped that this order will lead to a change in the industry and provide much-needed relief to homebuyers across the country.Chandigarh Housing Scheme Delays Resolved by High Court
Chandigarh Housing Scheme Delays Resolved by High Court
Chandigarh, June 9, 2024:
The Punjab and Haryana High Court has ordered the Chandigarh government to begin construction of apartments under the UT Employees Self-Financing Housing Scheme 2008 within two months. The court has also directed that the construction must be completed within one year, followed by possession transfers within two months of completion. The court’s ruling came after a petition filed by successful employees who had been waiting for years to receive their apartments. The government and the Chandigarh Housing Board were found to have been delaying the construction process without justification. The High Court ruled that the government and the board must not violate or oppose the promises made to the employees. The cost of the land will remain static at Rs. 7,920 per square meter as per the original scheme, while construction costs will be applied at current rates. The successful employees will now receive flats in Sector 52, 53, and 56 of Chandigarh. The delay in the scheme has been attributed to legal troubles, but now 3930 employees will finally be able to move into their new homes.
Supreme Court Sets Deadline for Construction Completion
The Supreme Court has ordered the completion of a construction project within one year, providing relief to homebuyers who had been waiting for their houses for several years. The court’s directive came in response to a petition filed by aggrieved homebuyers who alleged delays in the project and financial losses incurred due to the extended wait. The project, located in a prime area of the city, was launched several years ago and promised to offer luxury apartments at affordable prices. However, construction work had stalled due to various reasons, leaving the homebuyers in limbo. The court acknowledged the plight of the buyers and noted that the delay in construction had caused them significant inconvenience and financial hardship. The Supreme Court directed the developer to complete the construction within one year from the date of its order. The court also appointed a receiver to oversee the project and ensure its timely completion. The receiver will be responsible for monitoring the progress of the construction, disbursing funds to contractors, and ensuring that the project is completed according to the approved plans. The homebuyers welcomed the court’s decision as it provides them with a clear timeline for the completion of their homes. They expressed hope that the developer will adhere to the court’s order and deliver the apartments within the stipulated timeframe. The Supreme Court’s intervention in the matter highlights the importance of protecting the rights of homebuyers and ensuring timely completion of construction projects. It also serves as a reminder to developers that they must adhere to their commitments and complete projects as per the agreed timelines.
