Invoking arbitration proceedings, HRERA, Gurugram , has directed 23 builders to collectively refund around Rs 50 crore to aggrieved home buyers. The directions came in the wake of multiple complaints from disgruntled home buyers against builders for non-delivery of projects.
According to K K Khandelwal, Chairman, HRERA, Gurugram, the directions for refund to home buyers were issued as builders were found guilty for non-delivery of units within stipulated time as per the builder-buyer agreement.’
The guilty builders have been asked to refund home buyers’ money within 90 days without fail at an interest rate of 9.7 percent. In case of non-compliance of HRERA Gurugram orders, by the builders, aggrieved home buyers can approach the adjudicating authority for execution of orders.