In Brief
In a special leave petition concerning stalled real estate projects by Unitech, the Supreme Court created a mechanism to protect home buyers. The Court directed that homebuyers in 61 projects without possession be offered an option via a dedicated web portal to either take possession of their flats or obtain refund of amounts paid. Those who had already received possession in 13 projects were excluded from this option. The Court ordered publication of the order on its website to ensure all approximately 16,300 affected homebuyers could access and exercise their choice. A refund of approximately Rs. 7,816 crores was estimated to be due.
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