The amount of interest is compensation to the beneficiary.
he Section 71 of the Real Estate (Regulation & Development) Act 2016 empowers only the adjudicating officers to award compensation. As per the rulings of the Hon’ble Supreme Court, interest and damages is also compensation. Hence, those complaints which are filed under section 31 of the RERA Act, 2016 demanding refund plus interest should only be adjudicated by the Adjudicating Officers and not by the Chairperson and members of the RERA. The refund plus interest orders passed by the RERA so far are without jurisdiction hence, null and void.