SC orders Parsvnath to pay interest of 10% per annum to 70 Exotica home buyers as interim relief

The Supreme Court on Wednesday asked Parsvnath Developers to pay interest at 10% per annum to 70 home buyers of its Exotica project in Ghaziabad as an interim relief for delay in giving possession of apartments. The final hearing in the case has been scheduled for December 1 to determine the exact interest component to be paid to the home buyers. Parsvnath Developers has already deposited the principal amount amounting to Rs 22 crore with the apex court's registry, which has been distributed to the said home buyers.