The Economic Times

Booked flats in 2005, still awaiting possession: Builder ordered to pay 10.05% interest to homebuyers for nearly 20-year delay

The Bombay High Court, in its ruling, said a builder cant indefinitely retain purchasers money while failing to deliver homes. For the delay, the HC ordered the Mumbai-based builder to pay interest at 10.05% per annum from February 1, 2014, to the buyers until the possession is handed over.