The Supreme Court expressed its concern for lakhs of homebuyers all over the country who had been cheated by the developers and are now facing uncertainty about possession of their units. The court said that the Government cannot leave them in lurch to fight a legal battle against real estate giant and it is “obliged” to intervene to protect their interest.
A bench of two, Justices D Y Chandrachud and M R Shah said that it is the obligation of the government to protect its citizens who belong to the middle class family and invested their hard earned money in buying flats but got cheated by builders and facing uncertainty.
The court said all this while hearing a petition filed by the homebuyers against the Unitech group and are battling the same via legal process from nearly three years. The bench further said that the Centre should take over the group’s management along with its 46 subsidiaries in order to complete the housing project.
The Attorney General was also asked by the Supreme Court for assistance on the issue and requested him to hold consultation with the concerned department to frame a manner for the protection of buyers’ interest.
Following the same, the Court said, we are answerable to homebuyers who are looking at us with expectation on what we are doing to protect their interest. We will ask the government to take over the management of the group. There are responsible government undertakings that will take over the group and complete the construction. The government is obliged to protect the buyers.
This order from the Court same a day after it said that ownership of Amrapali group in its various housing projects would be taken away and would be handed over to Noida and Greater Noida authorities which will complete construction and hand over possession to buyers.
In the past sometime, thousands of cheated homebuyers asked the Supreme Court to protect their investment. The Supreme Court said that it was primarily Government’s duty to step in to rescue them and favoured that the government should take over the management of defaulter builders to complete the housing projects.
Justice Chandrachud said that we are not capable of handling matters of financial affairs. We are not expert on the issue. The Government should deal with these issues. We would ask the Government to step in to protect the interest of homebuyers. The government is obliged to protect the middle class homebuyers. These people have invested their hard earned money. They are paying interest on home loans but are not getting their homes. We have no solution on their plight. What can we do. We are saying so with great sense of anguish.