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Mumbai builder ordered to refund flat deposit with 9% interest

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The Mumbai Suburban Commission has ruled that a builder must return a buyer's deposit for a flat booking. The buyer requested the refund after banks rejected their home loan application. The builder had argued that the amount was non-refundable under its policy. However, the Commission found no convincing evidence to justify keeping the money. The builder has been directed to refund the amount along with 9% interest.

Read the full story at Times of India

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