Mumbai: NCDRC Orders Developer To Pay 6 Per Cent Interest For 30-Year Delay In Flat Possession
· Free Press Journal
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.
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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.
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