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Can developer increase rate arbitrarily at last minute w/o notifying?
31-May-2023 (In Property Law)
After investing and making the full payment of an apartment, the prices were increased arbitrarily without any intimation at the last moment. I am a senior citizen and I bought an apartment in Kundli Sonipat.
The developers increased the prices last minute. In spite of several emails and letters, they did not respond. What can we do now?
We would be in a better position to guide you if we could view your agreement with the Builder and the letter by the way of which the builder has increased the amount.
However, the option available to you is to file a consumer complaint against the builder for unilateral increase in the price of the apartment without any justification.
In case there is no clause, with respect to price escalation, then you can highlight the fact that the increase is in violation of the Agreement as no such clause exists in the Agreement which allows the builder to increase the price of the apartment unilaterally.
There have been a number of judgments by the Consumer Courts which have dealt with this aspect and the increase in the price has only been allowed where the Builder has been able to justify the increase in the prices.
Kindly contact us for any further details and action.
57+
Adv. Siddhant Sharma
Delhi | 200+ Answers
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