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Prabal Kumar Biswas   06 June 2023

Query regarding west bengal rera order

Recently I have received an Order from West Bengal Real Estate Regulatory Authority (WB RERA) wherein the Builder has been ordered to Refund Principal Amount and Interest at SBI Prime Lending Rate + 2%.

I have the Following Queries:

1) What is the Present SBI Prime Lending Rate? Is it the SBI Benchmark Prime Lending Rate shown as 14.85% (w.e.f. 15/03/2023) in SBI Website?

2) How the interest is Calculated? Is it Simple Interest or Compound Interest? 

RERA Order is silent in respect of method of Calculation of Interest.



 1 Replies

Dr. J C Vashista (Advocate and Legal Consultant)     07 June 2023

Contact and consult your lawyer / CA / Banker.

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