Mumbai consumer court orders refund in delayed Panvel flat case
In short
A Mumbai consumer commission ordered a builder to refund ₹45.45 lakh to a homebuyer after a Panvel flat was delayed for nearly 10 years. With 9% yearly interest, the payout rises to ₹86.37 lakh.
The court rejected the buyer’s claim for ₹5.23 lakh in home loan interest. It is not stated whether the developer will challenge the order.
What the reporting says
A Mumbai consumer commission ordered a developer to refund ₹45.45 lakh to a homebuyer who waited nearly a decade for a Panvel flat. The commission also directed 9% annual interest, taking the payout to ₹86.37 lakh, while rejecting the buyer's claim for ₹5.23 lakh in home loan interest. The immediate consequence is a court-ordered payout, but the developer's response is not stated.
Why it matters
A Mumbai consumer commission ordered a developer to refund ₹45.45 lakh to a homebuyer after a nearly 10-year delay in possession of a Panvel flat. The order adds 9% annual interest, bringing the payout to ₹86.37 lakh, but the commission rejected the separate claim for ₹5.23 lakh in home loan interest. The immediate effect is a compensation order; any appeal or compliance is not stated.