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Delhi HC dismisses plea by home buyers against loan EMIs without possession of flat

Dated on: Friday 17th March 2023

The Delhi High Court has dismissed many home purchasers' petitions asking banks and financial institutions not to impose EMIs till real estate developers handover possession of their particular units. The petitioners have alternative remedies under several statutes, including the Consumer Protection Act, the Insolvency and Bankruptcy Code, and the Real Estate Regulation and Development Act, according to Judge Purushaindra Kumar Kaurav, who refused to hear the writ petitions.

Supertech Urban House Buyers Association (SUHA) Foundation and other similarly situated people who have obtained home loans from banks and financial institutions under the subvention plan were among the petitioners before the court.

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