Chairman & M.D.,T. Nadu Housing ... vs S. Raghavan & Ors

The Supreme Court upheld the Madras High Court's order regarding the determination of final land cost and capitalization charges under the Ellisnagar Housing Board Scheme. The Court confirmed that the allottees are liable to pay the final land cost at Rs.349100/- per ground with 5% nominal profit, and interest is to be calculated from 21.5.2004, the date of final cost determination. The Board's contention for interest from the date of allotment was rejected, affirming the High Court's decision on interest liability and capitalization charges.