The three-member committee, appointed by the Supreme Court to oversee distribution of compensation to flat owners of the four demolished apartment complexes at Maradu, has completed its second phase of sittings on Wednesday.
This phase assessed the actual amount paid by owners for purchasing the flats. The committee finalized the actual amount after verifying receipts, bank statements and other documents.
The committee said that Rs 115 crore should be remitted by the builders of the four buildings. The committee determined the actual amount the builders owe to flat owners in 244 cases at Rs 52.75 crore.
It also proposed a compensation of Rs 62.25 crore to 249 flat owners.
Of the Rs 115 crore, two builders have together remitted Rs 4.89 crore. The remaining Rs 110 crore should be remitted by the four builders with the committee, which conducted a total of 36 sittings after it started functioning on October 10, 2019.
The amount to be remitted by K P Varkey and V S Builders of Golden Kayaloram is Rs 10.43 crore. They have paid Rs 2.89 crore. Jain Housing and Constructions Ltd, which built Jains Coral Cove, remitted Rs 2 crore and the balance amount to be remitted is Rs 26.53 crore.
The highest amount to be remitted is by the Holy Faith Builders and Developers Pvt Ltd. Though the company is required to remit Rs 41.03 crore, it has not remitted even a single penny with the committee so far. Alfa Ventures Pvt Ltd, which constructed Alfa Serene, has to remit Rs 32.09 crore with the committee.
The committee assessed the average amount for apartments in the four buildings. The average amount per flat in Alfa Serene is Rs 22.81 lakh. For Holy Faith H2O, Jains Coral Cove and Golden Kayaloram, the amounts are Rs 25.34 lakh, Rs 21.03 lakh and Rs 11.66 lakh, respectively.
