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Justice B.R. GAVAI and Justice Sandeep Mehta set aside the order passed by National Consumer Disputes Redressal Commission on  23rd January, 2023. The National Consumer Disputes Redressal Commission gave directions that the complaint is partly accepted. The opposing parties must issue a new statement of account, adding a delayed compensation of Rs. 2433120/- by November 13, 2017, within one month. They’ll also charge 9% interest annually on the remaining amount (excluding stamp duty and registration charges) from November 14, 2017, until payment. The complainants have a month to deposit the money. Once the account is settled, the opposing parties will transfer ownership to the complainants and hand over the property without delay.

The appellant is aggrieved by this decision and is upset because the commission allowed the developer to charge 9% interest per year on the remaining amount owed by the homebuyers from November 14, 2017, until they pay it off.

The Supreme Court had taken into consideration the material on record , arguments advanced by both the parties and impugned order. It is admitted that the appellant being the homebuyers had given ninety percent of total sale consideration price of the flat in question to the respondent developer till 23rd June, 2014.The said amount runs to nearly Rs.2,21,56,942.42/- (total consideration for 4111 sq. ft super area and amenities being Rs.2,38,20,932/-)

The Consumer dispute was registered by the homebuyers I.e the appellant’s as the respondent developer failed to handover the possession of the  flat to them till the scheduled  date I.e.16th March, 2014.

In this background, the Supreme Court of India has observed that the National Consumer Disputes Redressal Commission had made an error by directing the opposite party I.e. the respondent- developer to charge interest at the rate of nine percent per annum from the appellant I.e. the homebuyers on the balance amount except stamp duty and registration charges from  14th November, 2014 till the date of payment. The Supreme Court of India quashed and set aside the said part of the decision given by the National Consumer Disputes

Redressal Commission .

Supreme Court of India further directed the respondent to pay back the interest received on the remaining balance amount for the flat to the appellant I.e. homebuyers within two months from 10th April, 2024 and upon payment being made.

Therefore the Supreme Court disposed of the appeal by directing the respondent to pay back the interest amount within three months from the date of order and to also handover the fact in question within thirty days from the date on which complete payment is made by the appellant i.e. homebuyers.



Written by: Ayesha Hussain, College name : Surendranath Law College, 4th year B.A.LL.B(HONS) ,Intern under Legal Vidhiya 





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