In August last year, the top court had ordered demolition of twin towers and ordered refund to the home buyers, who had purchased apartments.
On March 25, the NCLT had declared Noida-headquartered realty major Supertech as insolvent while admitting a plea filed by the Union Bank of India over non-payment of its dues.
The bench while referring to home buyers said, “It’s like you have been given lassi (buttermilk) and now you want malai (cream) on top of that”.
The real estate sector, which took a hard hit due to COVID-19, is pinning hopes on the union budget to be presented on Monday for easing regulatory norms and for steps that will help in the completion of pending projects and the sale of build-up houses.
Union Finance Minister Nirmala Sitharaman on Thursday announced income tax relaxations to allow sale of primary residential units of up to Rs 2 crore value below the circle rate. So far, only 10 per cent difference between the circle rate and the agreement value was allowed.
In a regulatory filing on Sunday, the lender said that it approved over Rs 47,000 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG).
Around 50 homebuyers in Greater Noida's Shahberi area have decided to stop paying their monthly installments on bank loans over legality of construction of their flats.
The Supreme Court on Monday agreed to hear a plea by home buyers seeking it pass a direction to recover Rs 42.22 crore paid by the Amrapali group to former Indian cricket captain M.S. Dhoni as endorsement fee.
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