Inspite of receiving Rs.3,56,000/- towards price of the plot, petitioner did not get the Sale Deed registered, instead demanded an additional sum of Rs.2,49,000/-.  Being aggrieved, respondent/complainant filed a complaint before the District Forum which was allowed and the petitioner was directed to refund the sum of Rs.3,50,000/- along with interest @ 18%.  Rs.2,000/- were awarded by way of costs.

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          Petitioner being aggrieved filed an appeal before the State Commission which has been dismissed by the impugned order.

          Counsel for the petitioner confined his arguments to the rate of interest only.  According to him, the interest @ 18% is on the Excessive .  The respondent had paid the amount in the year 2007 and the complaint was filed on 17.12.2008.  At that point of time, the prevailing rate of interest was only 9%.  Accordingly, I agree with the contention raised by counsel for the petitioner that the rate of interest awarded is on the excessive side.

          Respondent, who has appeared on caveat, has been heard.  The order of the State Commission is upheld with the modification that the rate of interest is reduced from 18% to 9% p.a. from the date of payment till realization, provided the petitioner pays the amount to the respondent within a period of six weeks from today, failing which the rate of interest shall be 12% p.a.