Overview

• Justices Dipankar Datta and A.G. Masih directed M/s Business Park Town Planners Ltd to repay the buyer within two months.
• The order enhances the NCDRC’s 9% award to 18% simple interest from the dates of payment until refund.
• The buyer, Rajnesh Sharma, booked a Park Land plot in 2006, paid ₹43.13 lakh by 2015, and still did not receive possession as the developer even charged him 18% on alleged payment delays.
• The Court stressed there is no automatic rule granting buyers the same rate builders charge, stating that interest must be reasonable based on each case’s facts.
• The judgment underscores prolonged delay, shifting of plots, and the developer’s conduct as grounds for elevating compensation in this instance.