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SC asks Unitech to pay 14% interest for delay in flats delivery

The Supreme Court (SC) on Monday asked real estate developer Unitech to deposit 14 per cent interest on Rs.16.55 crore…

SC asks Unitech to pay 14% interest for delay in flats delivery

(Photo: SNS)

The Supreme Court (SC) on Monday asked real estate developer Unitech to deposit 14 per cent interest on Rs.16.55 crore for delay in delivery of flats to 39 buyers.

“SC asks Unitech to deposit 14 per cent interest on the principal amount of Rs.16.55 crore deposited by 39 flat buyers,” reports stated, adding, “The interest on the principal amount will be calculated from January 1, 2010”.

Meanwhile, setting the time limit for deposit of interest amount, the apex “court has asked Unitech to deposit interest amount in eight weeks," sources said.

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The SC, in October last year, had asked the company to refund the deposited amount to 39 homebuyers of its Gurgaon project for delay in delivery of flats.

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