Order to pay interest to allottees on delay in giving possession of flats is appropriate: HC

Lucknow, Sept. 9 -- In an important decision the Lucknow bench of the Allahabad High Court has ruled out that the order of the builder to pay interest to the allottees for the delay in giving possession of the flats is appropriate.

With this comment, the court dismissed all the appeals of Noida's Buildtech Private Limited Company.

The court upheld the order of the UP Real Estate Appellate Tribunal in which the builder company was directed to pay interest to the allottees for the delay in giving possession.

The single bench of Justice Pankaj Bhatia gave this decision on several appeals filed by Noida's Buildtech. In these, the order of the UP Real Estate Appellate Tribunal was challenged.

The tribunal had ordered the builder company to p...