Business News
Home > Business News
Flat buyers entitled to compensation for delayed possession: SC
TIWN
TIWN
PHOTO : TIWN
New Delhi, Aug 24 (TIWN) The Supreme Court on Monday said the flat buyers are entitled to compensation for delayed handing over of possession and for the failure of the developer to fulfil the representations made to them in connection with the provision of amenities.
“A failure of the developer to comply with the contractual obligation to provide the flat to a flat purchaser within a contractually stipulated period amounts to a deficiency. There is a fault, shortcoming or inadequacy in the nature and manner of performance which has been undertaken to be performed in pursuance of the contract in relation to the service.”
Add your Comment
Comments (0)
More Business News
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals