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VIJAY KUMAR (SELF EMPLOYED)     14 July 2017

Refund from builder, original buyer date/date of resale

Respectable members, i tried to get decision of consumer court on the issue but could not get. In a delay possession of property case, I want to know if buyer who bought a flat in a builder's project, does not take possession of property & reuest to consumer court to give refund then what will be starting date for calculation of interest on it, from the date of payments made by original buyer or from the date of resale property? Please share your valuable views, Thanks & Regards...........................



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 3 Replies

Siddharth Srivastava (Advocate)     14 July 2017

It depends on agreement which required to be examined. If it is a case of resale then it shall be from the date of resale. In case of resale the subsequent purchaser shall not vest any right from the retospective affect. Consult with details.

Ms.Usha Kapoor (CEO)     15 July 2017

I wholly agree with Sidarth Srivastav's opinion. Nothing more to say.

VIJAY KUMAR (SELF EMPLOYED)     17 July 2017

@ Sidarth @ Usha, thanks for precious comments, in the most of the resale of property cases, resale price is higher than offer price of property by builder. As per above comments, court would pass to refund principle amount with interest from date of resale but when price comes then it will be taken offer price of builder. In such way builder gets advantage to save money in form of payment of interest from the date original buyer to date of resale which is to be paid in case of original buyer. 


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