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Homebuyers of projects facing insolvency can claim possession
Hindustan Times Delhi
|September 10, 2025
NEW DELHI: The Supreme Court on Tuesday held that homebuyers stuck in housing projects facing insolvency shall be entitled to possession if their claim has been verified and admitted by the resolution professional in the list of financial creditors.
The top court passed the order while dealing with a case from Chandigarh where two people had booked a flat in Mohali's Ireo Rise (Gardenia) project in the year 2010, had even paid almost the entire sale consideration of ₹60 lakh, but failed to get possession even as insolvency proceedings were initiated against the builder - Puma Realtors Private Limited, in 2018.
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