Bombay HC orders Lok Housing & Constructions to pay Rs 4.3 lakh per month to buyers

Bombay HC orders Lok Housing & Constructions to pay Rs 4.3 lakh per month to buyers
07/05/2018 , by , in News/Views

The Bombay High Court has ordered Lok Housing & Constructions Ltd to make monthly payments of Rs 4.3 lakh to three home buyers till they are given possession of their apartments in the builder’s housing project in Khar West. The order was passed in favour of Hong Kong-based Ratna Vasnani, Gaurav Motiani and a third home-buyer by Justice Revati Mohite Dere while hearing an anticipatory bail application filed by Lok Housing’s directors Darshan Gandhi, Naina Shah and Meena Merchant in a cheating case registered by the project’s sub-developer.

The buyers were promised delivery of the apartments in one of the five buildings from the saleable component of an SRA project, in December 2014 but the construction is yet to start. Vasnani had paid the builder Rs 65 lakh of the Rs 75 lakh cost of a 1,100 sq ft flat in the building.

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