Homebuyer seeking refund can’t ask builder to reimburse loan interest: SC
NEW DELHI: Supreme Court has held that a homebuyer, who seeks refund due to delay in completion of a project, cannot claim that a developer also reimburse the amount paid as interest on home loan. The buyer is only entitled to the principal amount paid to a company and a ‘compensation’ in terms of the interest on the said amount as per the agreement, it said. It set aside a consumer court order directing the Greater Mohali Area Development Authority to reimburse the interest paid by a homebuyer to a bank on home loan in addition to refunding the principal…