Brief by Shorts91 Newsdesk / 08:24am on 26 Sep 2025,Friday India
In a landmark ruling, the Supreme Court of India directed real estate developers to pay the same 18% interest on delayed possession as they charge buyers for late payments. The case involved a buyer who waited over a decade for a plot in Haryana’s Park Land project, despite paying ₹43.13 lakh. The builder imposed 18% interest for alleged delays, yet offered only 9% interest on refund. The court found this inequitable and modified the consumer commission’s order, mandating refund with 18% simple interest within two months. Justices Dipankar Datta and AG Masih emphasized fairness, stating builders must face consequences equal to those imposed on buyers for defaults. (PC: Money Control)
