**Supreme Court Orders Delhi-Based Developer to Refund Over Rs 43 Lakhs with Enhanced Interest**
*New Delhi:* The Supreme Court has directed Delhi-based real estate developer M/s Business Park Town Planners Ltd. to refund more than Rs 43 lakhs to a plot purchaser, increasing the simple interest rate from 9% to 18% per annum.
### Bench Overturns NCDRC Order
The order was delivered by a bench comprising Justices Dipankar Datta and Augustine George Masih, who overturned an earlier decision by the National Consumer Disputes Redressal Commission (NCDRC). The NCDRC had capped the interest rate at 9% per annum, but the apex court found this insufficient given the circumstances.
### Developer’s Conduct Criticised
The Supreme Court criticised the developer’s conduct, highlighting prolonged delays, unfair penalty charges on the buyer, and a wait lasting over a decade. The bench observed that these factors warranted higher compensation for the aggrieved party.
> “Keeping in mind the overall conduct of the respondent (developer): the delay caused by it in offering the plot, the fact that the respondent charged the appellant delay compensation @18% p.a. on the due amount, and the long wait that the appellant had to endure over a period of a decade, causing harassment and anxiety, we find that refund of the principal amount with 9% interest, as awarded by the NCDRC, will not serve the ends of justice,” the court noted.
### Interest Rate Increased to 18%
Addressing the increase in interest, the bench further explained:
> “In view of the conduct of the respondent, it cannot be permitted to escape with a nominal liability for its default while it charged interest @18% on default committed by the appellant (complainant)… equity and fairness demand that the respondent be put to the same rigours… We therefore increase the rate of interest from 9% to 18% per annum, keeping the other terms intact.”
### Case Background
The dispute arose from a plot booked in 2006 by buyer Rajnesh Sharma for Rs 36,03,692. Despite paying a total consolidated amount of Rs 43,13,312.67—including 18% simple interest for delayed payments—Sharma never received possession of the plot due to the developer’s significant delays.
### Court’s Directive
The Supreme Court ordered the developer to refund the amount within two months, ensuring justice for the aggrieved buyer.
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https://www.freepressjournal.in/india/supreme-court-orders-delhi-developer-to-refund-43-lakh-with-18-interest-to-plot-buyer-after-10-year-delay