Summary:
Consumers can claim compensation for losses they suffer due to escalated housing prices. If a flat is not handed over despite delays and the buyer has to exit and look for another flat, then they can claim the extra sum they’d have to pay due to escalation in realty prices. For a flat booked in 2010, the price may be Rs 5,000 per sq ft. If it is not given after many years and one has to take another flat, the builder is legally liable to make up for the difference. —Shirish Deshpande, chairman, Mumbai Grahak Punchayat.