The Supreme Court on Friday ordered the Supertech Builders to refund the homebuyers, who had paid for flats in Supertech’s 40-storey twin tower in Noida, on or before February 28.
Earlier, the Apex Court had ordered demolition of Supertech’s 40-storey twin tower in Noida for violating the norms.
A Bench comprising Justice D.Y. Chandrachud and Justice Surya Kant accepted the computation for refund made to the homebuyers by Amicus Curiae Advocate Gaurav Agarwal in the matter.
Senior Advocate S. Ganesh, representing Supertech, submitted that 38 impleadment applications have been filed, seeking refund of the amount.
“We had a meeting with the Amicus and the amount agreed will be paid to them. It will be paid on or before February 28,” said Ganesh.
Agarwal submitted that there are 38 homebuyers and if there is a home loan which the purchaser has taken, then the developer can settle the home loan account by March 31.
The Counsel for some homebuyers urged the Court to re-look at settlements reached between their clients and the developer.
“We have to observe some fairness to developers also. If there are settlements, then how can we intervene in this?,” the Bench queried.
Justice Kant emphasized that this controversy should come to an end, otherwise this matter will just go on.
Ganesh also urged the court not to re-open the settlements reached between some homebuyers and his client, which the Bench agreed to.
“The payment due to homebuyers has to be made on or before February 28.” said the top court.
The bench added that in cases where homebuyers had paid for the flats after availing home loan from the banks, then it has to be settled by the developer before March 3 and an NOC from the financial institution has to be obtained before April 10.
“Homebuyers, who have settled and received their dues at the terms of settlement, will not be disturbed,” said the Bench, refusing to reopen the settlement.
In its August 31, 2021 judgement, the Supreme Court had ordered the demolition of twin towers and also directed Supertech to refund the money to the homebuyers.