If the developer fails to deliver within the stipulated period, the developer has to compensate the house buyer by paying liquidated damages for late delivery.
AT the stroke of a pen, monies payable to a group of aggrieved house buyers are taken away by the Controller of Housing (Housing Controller).
We are talking about a group of house buyers who had suffered losses due to a delay in completion of their homes by their developer and the very ministry that is supposed to protect them signed away their rights and remedies. We are talking about such rights and remedies being taken away from them for the benefit of the very culprit developer who caused them the loss and suffering.
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