
Owners Of Maradu Flats Demolished For CRZ Violations Not Entitled To Interest On Refund From Builders: Supreme Court
Live LawThe Supreme Court on Friday held that the owners of the flats in the four buildings in Maradu, Kochi, which were demolished in 2020 for CRZ violations, are not entitled to interest on the refund payable to them by the builders.A bench comprising Justices L Nageswara Rao and BR Gavai ruled so on the reasoning that the purchasers had been staying in the flats allotted to them for a period of. The Supreme Court on Friday held that the owners of the flats in the four buildings in Maradu, Kochi, which were demolished in 2020 for CRZ violations, are not entitled to interest on the refund payable to them by the builders. The flat owners prayed for interest on the refund by submitting that they had invested their life-savings in the apartments, whihc were ultimately demolished on orders of the Supreme Court for violations of the Coastal Regulation Zone norms. Four high rise apartment buildings in Maradu - Golden Kayaloram, Jain Coral Cove, H2O Holy Faith and Alfa Serene - were demolished in January 2020 following the directions issued by the Supreme Court after finding that they were built in violation of the relevant Coastal Regulation Zone norms.
History of this topic
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