Absolute Nature of Allottee Refunds and Non-Discretionary Timelines Under Section 18 of the RERA Act
Highlights of the Judgment:
- Comprehensive analysis of Section 18(1) of the Real Estate (Regulation and Development) Act, 2016 concerning an allottee's right to refund.
- Examination of whether a promoter's obligation to refund received amounts with interest upon demand is absolute and unqualified.
- Judicial interpretation distinguishing between ratio decidendi and obiter dicta regarding Supreme Court precedents in Newtech Promoters.
- Evaluation of regulatory discretion to relax refund timelines or make refunds contingent upon securing an occupation certificate.
- Reconciliation of divergent interpretations arising from Neelkamal Realtors concerning promoter hardships and statutory mandates.
- Differentiation between the statutory mechanisms for claiming refund of principal versus adjudicating compensation.