1. Heard.

2. Admit. By consent of the parties, the appeal is called out forthwith and heard finally.

3. This First Appeal is directed against the judgment and order dated 21.7.2017 passed by the learned Judge of the City Civil Court, Greater Mumbai, by which Suit No.9933 of 1987 is decreed. The respondents/plaintiffs have filed a suit for specific performance of the agreement; for compensation of Rs.3 lakhs alongwith interest @ 18% and alternatively for refund of earnest money. The appellants/defendants are the owners of a piece of land admeasuring 721 sq.yards with a building thereon situated at New CTS No. 1600 having final plot No. 258 (original building No. 239) situated at Dixit Road, Vile Parle (East), Mumbai. The original plaintiff-deceased was a builder developer and he agreed to purchase the property of the defendant. In 1984, the plaintiff after negotiations with the defendants agreed to purchase the suit property for Rs.1,85,000/-. Inter alia, the original deceased defendant executed agreement dated 5.7.1984 in favour of the deceased plaintiff and accepted an amount of Rs.18,500/- towards earnest money. The plaintiff thereafter paid property tax of Rs.316.50ps fo