Pay 6% interest on flat’s cost for delay: SC to bldr

Making an example of a big fish among developers, the Supreme Court on Monday said builders must pay home buyers annual interest on cost of the flat for the period of delay in its delivery, in addition to the meagre monthly per square foot penalty mentioned in the apartment buyers agreement (ABA).

from Times of India https://timesofindia.indiatimes.com/business/india-business/delay-in-delivery-developer-to-pay-home-buyers-interest-on-cost-of-flat/articleshow/77733205.cms