Consumer Law — Housing — Delay in delivery of possession of the Flat — Appellants purchased a flat from a developer but faced significant delays in receiving possession — They filed a complaint seeking a refund and interest — The National Consumer Disputes Redressal Commission (NCDRC) partly allowed the complaint, ordering the developer to refund the full amount paid along with interest at 9% per annum — On appeal, the Supreme Court upheld the refund order but increased the interest rate to 12% per annum from the date of deposit until the refund. The court also dismissed other claims for compensation.
2024 INSC 557 SUPREME COURT OF INDIA DIVISION BENCH VIDYA AND OTHERS — Appellant Vs. M/S PARSVNATH DEVELOPERS LTD — Respondent ( Before : B.R. Gavai and Sandeep Mehta, JJ.…