In Brief
A builder failed to deliver a residential flat within the promised timeframe (October 2015), leading to a dispute with a subsequent purchaser who stepped into the original allottee's position. The National Consumer Dispute Redressal Commission ordered refund with 10% interest per annum. The Supreme Court partly allowed the builder's appeal, but rejected the argument that subsequent purchasers are barred from claiming interest. The Court held that once a builder acknowledges a transfer, the subsequent purchaser becomes a consumer entitled to similar relief as the original allottee. The Court modified the order to grant interest at 9% per annum from April 2016 (when the builder acknowledged the transfer), overruling prior precedents that denied interest to subsequent purchasers based on their later entry into the transaction.
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