SC tells Unitech to pay interest to flat buyers

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New Delhi: The Supreme Court on Monday asked real estate major Unitech to pay interest to 39 flat buyers who chose to withdraw after the builder`s failure to deliver flats as promised.

The matter concerns the owners who booked flats in Unitech`s Vistas project in Gurugram in Haryana.

Justice Dipak Misra, Justice A.M. Khanwilkar and Justice Mohan M. Shantanagouder gave the builder eight weeks to deposit the interest at the rate of 14 percent to the top court`s registry.

The interest would be calculated from January 1, 2010 till Unitech deposited the principal amount.

The court said 90 percent of the interest amount that would be deposited with its registry would be disbursed to the 39 buyers who have opted out.