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Builder Charging Interest on Late Payment and not paying us for delay
12-May-2023 (In Property Law)
Hi Sir/Ma'm, I have booked 2bhk flat with reputed builder in Pune. The builder has charged interest on delayed payments after paying 9 installments ( 3 years from entering into agreement) & that also charging interest from begining. The account summary sent with each installment showed 0 amount in interest column. Builder is not ready to waive any amount. Need advice.
The query seems to be incomplete... Need to go through the papers. Also if the project falls under MahaReRA, which I believe it must be...you can approach RERA. However, in your case you have pending installments. So that may be an impediment. If the account statement is zero then is builder asking you to pay cash for interest? And three years after agreement... What is the project completion date and date of delivery of possession. Has the builder stuck to timeline. If not you can say that money wasn't due as comparable completion wasn't completed and hence interest was not payable. I suggest you first have the papers viewed by an Advocate. To know exact status. As per agreement Is there a difference in the asking interest and interest payable by builder on default
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Adv. Bhavik Salia
Mumbai | 25+ Answers
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