News
Multiple selling of 672 flats:- Scam exposed!!
The recent CBI chargesheet in the NCR real estate case marks an important legal milestone in exposing how profile funding / subvention schemes were misused to defraud homebuyers.
I appeared as counsel for Ms. Nupur Chaurasia, one of the affected buyers whose case forms part of the CBI’s findings. Despite making substantial payments under a “No EMI till possession” scheme, she was denied possession and refund—highlighting how such schemes systematically transferred risk from builders (in this case Ridra Buildwell Constructions Pvt. Ltd.
Securing Justice for Homebuyers: A Proud Professional Milestone
I am pleased to share a significant professional achievement in my journey as an advocate, where effective legal representation resulted in meaningful relief for a homebuyer and judicial accountability for a real-estate developer.
In a consumer dispute before the Hon’ble Karnataka State Consumer Disputes Redressal Commission, we successfully represented the complainant in a case involving prolonged delay in possession of a residential flat by Ozone Urbana Infra Developers Pvt. Ltd
I am thrilled to share our another victory before the Karnataka High Court, Bengaluru Bench, as stay given by the Hon’ble High Court against the Banks and the builders refraining them from taking any coercive action action against the Homebuyers.
Major Win Against Builder Delay
The Delhi State Consumer Disputes Redressal Commission has allowed our complaint against Parkwood Developers Pvt. Ltd., holding the builder liable for delay in possession.
Relief granted:
• ₹18.5 lakh refund
• 6% interest (9% on default)
• Full home loan clearance
• ₹1 lakh compensation + ₹50,000 costs
The case highlights the risks of “profile funding” arrangements, where buyers are pushed to take loans on promises that builders will pay EMIs. When projects stall, buyers are left burdened with debt and no home.
This judgment reinforces a clear principle: homebuyers cannot suffer for a builder’s default. Accountability in real estate matters.
On 15th July 2024, after lot of hard-work and long battle, the Hon’ble Supreme Court of India has finally granted interim protection to homebuyers against any precipitative and coercive action by the bank and builder in cases where the bank has disbursed the loan amount to the builder in one shot as against the RBI and NHB guidelines.