Can’t take away flats from owners over developer’s loan default: Bengal real estate tribunal

The Kolkata Real Estate Tribunal ruled that flats cannot be taken away from owners due to a developer's loan default. The decision reinforced the protection of property rights, stating that homebuyers who have already purchased flats should not suffer because of the developer’s financial troubles. The ruling safeguards consumer interests and ensures that property owners retain their homes even if the developer defaults on financial obligations. It serves as an important precedent for real estate disputes in India.