In Brief
A real estate developer agreed to hand over a row house to a buyer by December 31, 2008, with a six-month grace period. After seven years of delay, the buyer filed a consumer complaint seeking possession and, alternatively, refund of Rs 39.29 lakhs with 12% interest and Rs 20 lakhs compensation. The Supreme Court held that a buyer cannot be forced to wait indefinitely for possession and is entitled to refund after an unreasonable delay. The Court found the buyer's contract one-sided as it imposed 18% interest on buyer defaults but only savings bank interest on builder delays. The Court allowed refund but reduced interest from 12% to 9% per annum, dismissing the developer's claim that substantial investment justified denying refund.
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