SC verdict on Supertech: Will Top Court ruling check fraud in realty sector, what home buyers got from this judgement? Expert opines this

The Supreme Court (SC) has recently ordered demolition of 40-storey twin towers of Supertech’s Emerald Court project in Noida for violation of building by-laws.

The apex court also directed that the entire amount of home buyers be refunded with 12 percent interest from the time of the booking and the Residents Welfare Association be paid Rs 2 crore for the harassment caused due to the construction of the twin towers.

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Speaking on the same and answering the question if this judgement of Supreme Court can be seen as a landmark judgement, Aditya Parolia, Advocate, Supreme Court said that this decision is not something new and the court has taken such decisions earlier as well like in the case of Kerala, where two buildings built on the river banks were asked to be demolished by the court.

SC के फैसले से थमेगा रियल्टी सेक्टर में फ्रॉड?
होम बायर्स को फैसले से क्या मिला?#SuperTech पर क्या है जानकारों की राय?

देखिए #propertyplus के खास एपिसोड में pic.twitter.com/zmODV4p6ob

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But the issue is that the builders are not learning anything from these cases, Aditya added. He said that in the case of Supertech the judgement has benefited the homebuyers and it is commendable that the homebuyers fought such a long fight. This case started in the year 2009 and the judgement came in 2021, he said.

The advocate also urged the Supreme Court and other courts to take these kind decisions bit fast as lots of money is being spent. He further said that instead of approaching Supreme Court, the lower courts, high courts, etc. can also come forward and pass such judgements.

The advocate said that a guideline which is almost ready on different Supreme Court Judgements can be followed in making decisions and passing judgements.