ETV Bharat / bharat

'Refund Over Rs 43 Lakh With 18% Interest To Plot Buyer': SC To Builder

The bench said the rate of interest charged by the builder cannot be granted to the buyer as a rule of thumb.

New Delhi: The Supreme Court on Wednesday said there is no principle of law that an interest in default charged by the builder can never be granted to the flat or plot buyer, while directing a real estate firm to refund over Rs 43 lakh to a plot buyer with 18 per cent interest.

The judgment was delivered by a bench comprising justices Dipankar Datta and Augustine George Masih. The bench held that this is a case where refund of the principal amount of Rs 43,13,212, with interest at the rate of 9% per annum for a plot booked in 2006, as awarded by the National Consumer Disputes R

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