• Interest on refund of registration amount  - Rate of interest payable on refund of registration amount - Delhi Development Authority - Refunded the registration amount along with only 7% interest in terms of the offer document  Upheld  - No material for coming to the finding by the MRTP that payment of interest on the registration amount should not be less than one charged from the applicants when they commit a default -  A default clause is introduced to deter any delay or default and hence such penalty is by its very nature a deterrent one - That by itself offers a reasonable justification for the appellant to charge a higher rate of interest in the case of delay/default - So far as interest on the registration amount is concerned it stands on a different footing - The relevant provision in the Brochure of the 1985 scheme by itself does not appear to be unreasonable in allowing interest @ 7% p.a. - Nothing has been brought to our notice which may show that the registration amount is to remain locked for any fixed term or that the appellant can refuse an application for cancellation of registration at an early stage or even before draw of lots for allotment/allocation of flats - In such a situation it is not possible to infer that the registration deposits must reasonably be kept in long term fixed deposits with a view to earn higher interests. (2016)3 P.L.R. SC 954

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