Home buyers to only get interest, says Supertech

New Delhi, September 7 

Real estate major Supertech today clarified it had been asked by Supreme Court to pay 10 pc interest to home buyers for project delays.

Supertech said in a statement that the SC had not directed the company yesterday to refund the investors’ money. “The SC rejected the prayers of the applicants seeking refund... and has asked them to accept interest on their principal amount at the rate of 10 per cent. The company has been continuously paying the interest since January 2015. This was an interim arrangement offered by us to customers till the matter is finally decided by the court, to provide them relief.

“A few buyers of the 14 applicants who went to court had discontinued taking interest cheques for the last few months and reached the court for refund,” it said. — TNS