NEW DELHI: The Supreme Court expressed its concerns on Friday regarding the increasing number of homebuyer cases in Delhi-NCR and the re-development projects in Mumbai, noting its adverse impact on the reputation of real estate developers.
A bench consisting of Justices J.B. Pardiwala and P.B. Varale was addressing a dispute related to the re-development of a Mumbai housing society. They remarked that the scale of real-estate disputes is alarming in both Delhi-NCR and Mumbai.
“This real estate issue is quite serious in these areas. In Delhi-NCR, countless homebuyers are impacted by housing projects, while Mumbai faces challenges with re-development initiatives. You won’t find such problems elsewhere; for example, in Gujarat, there are no disputes concerning real estate projects. This situation tarnishes the reputation of developers,” the bench stated.
Justice Pardiwala urged the lawyers representing various builders to reflect on the matter.
The Supreme Court is currently handling numerous real-estate disputes involving Unitech, Amrapali Group, Jaypee, and Supertech Group, with thousands of homebuyers contesting delays in the possession of their flats by developers.
