The Supreme Court on Tuesday rejected a resolution blueprint submitted by Parshvnath Developers to hand over possession or refund money with interest to aggrieved homebuyers, observing that the proposal appeared to be another tactic to delay proceedings and payments. A three-judge bench headed by Chief Justice of India Surya Kant directed the real estate company to place a fresh plan capable of addressing every claim raised by purchasers. The bench cautioned that if an acceptable proposal is not presented, the court may be compelled to appoint a high-powered committee to assume charge of all associated obligations.
Bench Warns of High-Powered Committee Over Pending Homebuyer Claims
The court made it clear that buyers’ grievances encompass full refunds, compensation for handover delays, and compliance with directives issued by the Haryana Real Estate Regulatory Authority. Emphasizing that long-standing disputes cannot be cleared merely through deferred promises, the bench insisted on a practical and binding mechanism. It warned that repeated delays would leave the judiciary with no alternative but to strip the firm of its responsibilities and hand management of the resolution process to an independent authority.
Court Points to Apparent Collusion Between State Agencies and Builder
During the hearing, the bench took serious exception to the conduct of relevant state administrative bodies, remarking that while they were mandated to safeguard the interests of flat purchasers, they appeared prima facie to have acted hand in glove with the developer. The court also expressed displeasure over the company’s defiance of orders passed by Haryana RERA, a quasi-judicial body. The developer informed the court that out of 27,000 residential units planned across 24 projects, 24,000 had been sold, while around 3,000 buyers were still awaiting possession. The company had offered to hand over these remaining units within a year, a timeline the bench declined to accept.
Sector 53 Gurugram Case Highlights Decade-Long Ordeal of Buyers
Underlining the plight of purchasers, the bench cited the case of Rita Tikku and Lokesh Tikku, who had put their life savings into a flat at Parshvnath Exotica in Sector 53, Gurugram. The property had a purchase price of 1.78 crore rupees, with an agreement ensuring possession within 36 months, setting the delivery deadline for February 2013. Despite paying the entire amount upfront, construction was not completed on schedule. By 2021, the couple had received neither possession of the flat nor a refund of their capital, reflecting the severe delays faced by consumers in the builder’s residential schemes.
