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Calculations Of Late Payment Charges
07-Oct-2023 (In Property Law)
If the late payment interest is 15% per annum, how is it calculated on a monthly basis if a buyer delayed payment for one month.
By a calculator unless you're a mathematician. Nevertheless you must object to any delayed payment being imposed if you have a reason to justify the delay in payments. also, there are a lot of hidden factors involved in this case. for instance, delay in offer of possession at the end of the builder.
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Adv. Akshat Mittal
Panchkula | 50+ Answers
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