Facts:
- An agreement was singed in 2006 for sale of 8 acres at Shrikakulam Distt Andhra Pradesh
- Rs. 250,000.00 received as advance
- The registration was not done till 2010 due to certain issues.
- The agreement was cancelled as per a clause , wherein it was stated that if the registration of said plot not done with in 12 months after the execution of agreement the seller can revoke the agreement.
- Rs. 250,000.00 refunded to buyer Oct 2010
- buyer has filed a case for recovery of interest ,
Request:
- kindly let me know the rate of interest payable to buyer as decided by High /supreme court
- Is it as per RBI guideline
- the buyer is asking 30% CI
