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Enhanced penalty as invested in commercial property but cause delay


22-May-2023 (In Consumer Court Law)
I invested Rs.28/- lakh in a newly launched office space project in NOIDA, Uttar Pradesh. The project was to be completed in 2015 but they now say it will take another 2 years, may be more. As per agreement they will give me a paltry amount of penalty for delay @ Rs.9000/- per month at the time of registration. My question is - can I get a relief from the court by way of enhanced rate of penalty/interest @ 12% per annum from the agreed date of possession in view of extra-ordinary delay that was not envisaged during agreement Hindu
Answers (2)

Answer #1
653 votes
Hello Sir

Yes you can knock the door of consumer court for deficiency of services by ur builder. If the penalty clause is mentioned in the agreement then no doubt you can recover the said amount with interest
Answer #2
725 votes
yes you can get the compensation but the rate of interest is decided by the court. you can file the case in state commission . you have also other options that i can let you know when you meet me
you can get the moneyu easily

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