Mumbai: NCDRC Orders Developer To Pay 6 Per Cent Interest For 30-Year Delay In Flat Possession
The NCDRC has directed Mumbai developer Om Sadan Private Limited to pay 6% simple interest on Rs 4.52 lakh as compensation for delaying possession of a flat booked in 1984. Possession was due by December 31, 1984, but was handed over only on June 1, 2015.
The NCDRC has awarded interest compensation to a Mumbai homebuyer who received possession of her flat decades after booking it | AI Generated Representational Image
Mumbai, October 3, 2026: The National Consumer Disputes Redressal Commission (NCDRC) has directed a Malabar Hill developer, Om Sadan Private Limited, to pay 6% interest on the original price of a flat booked in 1984, after possession of the flat was handed over to the customer after a delay of over 30 years, in 2015.
Compensation For Delayed Possession
The commission, in its order, directed the developer to compensate the complainant for the delay by paying simple interest at 6% per annum on Rs 4,52,000 from January 1, 1985, to June 1, 2015, when possession of the flat was handed over.
The order was passed last month by a bench comprising Presiding Member AVM J. Rajendra (Retd.) and Member Justice Saroj Yadav. The opposite parties had already been proceeded against ex parte in June 2023.
Also Watch:
ALSO READ
According to the complainant, Anita Basant Misra, the total consideration for the unit was Rs 4,59,000. The complainant had paid Rs 4,52,000 in 1983, and possession was due to be handed over by December 31, 1984.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
RECENT STORIES
-
-
-
-
-