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Noida Homebuyer Wins Compensation After Seven-Year Flat Delay

Noida Homebuyer Wins Compensation After Seven-Year Flat Delay
‘Paid Rs 40,000 rent, EMI for years’: Noida buyer wins compensation for delayed flat · indianexpress.com

Shyam Sunder Agrawal bought a home in Noida in 2010.

The builder said the home would be ready by 2012.

Instead, Agrawal received it in March 2017.

During the wait, his family rented another home and he continued paying his loan.

He said the flat was still missing important paperwork when it was handed over.

He asked for money to make up for the long delay.

A tribunal supported his claim, and the Allahabad High Court later agreed.

The court said accepting the home did not erase his right to compensation.

The builder argued that environmental restrictions caused the delay, but the court did not accept that explanation for the relevant period.

Key facts

Buyer
Shyam Sunder Agrawal
Property
3BHK flat at Antriksh Golf View, Sector 78, Noida
Booking price
Rs 43 lakh
Booking date
April 30, 2010
Promised possession
2012
Actual handover
March 2017
Interim housing cost
Rs 40,000 monthly rent alongside a Rs 20,000 home-loan EMI
Compensation basis
Interest for the delay at one percentage point above the Marginal Cost of Funds-based Lending Rate

Quotes

Shyam Sunder Agrawal

Delhi government official and homebuyer who pursued compensation for the delayed Noida flat

““If you don’t pay, the builder won’t give you possession, he can cancel it. So, I was helpless… It was mentally harassment… but, ultimately the truth prevailed.””
indianexpress.com
““This delay was not expected, the long-drawn process starts affecting you. Some homebuyers do not even wish to take the legal route.””
indianexpress.com

Sources

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