Builder kept homebuyer's money for 10 years, court orders to refund Rs 5.25 lakh

A Hoshiarpur consumer commission has ordered a builder and housing society to refund Rs 5.25 lakh to a software engineer. The project, "Krisha Heights," promised completion within four years of a 2015 application, but remained on paper for over a decade. The commission slammed the delay as an unfair trade practice, stating builders cannot collect funds without approvals and use them as interest-free capital. The refund includes 7% annual interest.

By TOI LEGAL DESK