• UGI USER
  • May 10, 2024
  • 13 Likes
  • 0 Comments

DELHI HC DIRECTS NBCC TO REFUND AND COMPENSATE HOMEBUYER

Why in the news?

Delhi HC orders NBCC to refund Rs 76 lakh+interest, pay Rs 5 lakh compensation to homebuyer for non-possession of flat.

About Court Ruling and Compensation:

  • The Delhi High Court directed the National Buildings Construction Corporation (NBCC) to refund a homebuyer over Rs 76 lakh with interest and pay Rs 5 lakh compensation.
  • The court emphasised the “extreme mental agony” suffered by the petitioner due to the non-possession of the flat for seven years.
  • It ordered NBCC to return the entire amount within six weeks, along with 12% interest from January 30, 2021.
About National Buildings Construction Corporation (NBCC) :

  • National Buildings Construction Corporation (NBCC) is a government-owned corporation under the Ministry of Housing and Urban Affairs, India.
  • It operates in three main segments: Project Management Consultancy, Engineering, Procurement & Construction (EPC), and Real Estate Development.
  • NBCC signed an MOU with DSEU for training students in the Civil Engineering Programme.
  • The MOU includes NBCC providing curriculum expertise, faculty training, and staff support.
  • NBCC will also assist in internships, placements, and industrial visits for students to gain real-world experience