AIBE Prep › Papers › AIBE XVIII — December 2023 › Q.17
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Q.17
Contract, Specific Relief, Property & NI Act Medium Act + Section Given
Bare Act Transfer of Property Act, 1882 · Section 63A(2)

What is the default interest payable under Section 63A of the Transfer of Property Act, 1882?

A 6% per annum
B 8% per annum
✓ 9% per annum Answer
D No default rate prescribed
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Explanation & Strategy

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Section 63A(2) TPA prescribes 9% per annum as the default interest rate when no contractual rate is specified, particularly in context of mortgagee's improvements to property.

  1. 1 Pick up Transfer of Property Act, 1882.
  2. 2 Go to Section 63A(2).
  3. 3 Read: 'where no such rate is fixed, at the rate of nine per cent per annum.'
The text reads: Section 63A(2): Where no rate of interest is fixed, interest shall be at the rate of nine per cent per annum.
At a Glance
Subject Contract, Specific Relief, Property & NI Act
Difficulty Medium
Act Transfer of Property Act, 1882
Section Section 63A(2)
Answer (C) Act + Section Given
Paper AIBE XVIII — December 2023
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📖 Open Book — Reading Mode Transfer of Property Act, 1882