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The Supreme Court today ruled that all the buyers who had invested in the controversial Noida Housing Project would be entitled to complete refund of money, including interest, from the builders.
A bench of justices G S Singhvi and A K Ganguly, which had on July 6 quashed the acquisition of over 156 hectares of land acquired by the Greater Noida Land Authority, said that the purchasers “shall be entitled to get back the amount along with interest at an appropriate rate and if the builders refuse to prepay the amount, then they shall be free to avail appropriate legal remedy.”
The order will benefit over 6,000 people who had booked the flats in residential complexes being built by realty firms like Amrapali and other prominent builders at Greater Noida.
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