Legal dispute on land.
We have purchased the flat from A class builder, (a listed company) which is due for possession in march 2015, recently we have come to know some litigation is going on in respect of the land. So far we have paid more than 60% of the amount (all payment though cheque only). We are getting the demand note every month from the builder and regarding the litigation issues, builder has also confirmed that litigation is there but same is man gable issue.
The building completion has been 60% of the block. in such scenario , will it be necessary for us to continue to honor the demand note. should we hold our payment and wait for legal issue to be resolved; can he levy the interest charge on delayed payment?
You should make payment on time . in event you default builder will charge you interest as per said agreement . As on date work is in progress. Honor your commitments. If after making full payment builder defaults in honoring his commitments you can drag him to consumer forum and seek refund with interest and also seek compensation.
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