India, Sept. 14 -- Flagging the plight of tax-paying middle-class citizens, many of whom find their "dream home" reduced to an unfinished building, the Supreme Court (SC) has asked the Centre to consider establishing a "revival fund" to provide bridge financing for stressed projects to safeguard the interests of homebuyers.
A Bench of Justices JB Pardiwala and R Mahadevan said the State carries a constitutional obligation to create and strictly enforce a framework where no developer is permitted to defraud or exploit homebuyers, and ensuring timely project completion must be a cornerstone of the country's urban policy.
The court also said it was imperative that RERA authorities were not reduced to "toothless tigers" and they must be equip...