Compensation in terms of interest for delay period, Mental harassment,
16-Feb-2023 (In Property Law)
The builder ‘BPTP Limited’ where I purchased the flat ,delayed the project beyond the maximum given time of 3.years. The builder ‘BPTP Limited’ delayed the project 3.25 years as per its own data while actually this project was delayed by more than 4 years. Even when the possession was offered , the builder increased the price in a big way from Rs. 2567655 to Rs.3030740.91.Builder even did not offer the compensation as per the Tripartite agreement though it was very less comparatively . In this situation I could not take possession. The Builder is charging 15% compound interest rate for delayed payment as can be seen in the documents sent by it. This is mentioned in the Tripartite agreement document too.
My queries are if I do not take the possession then-
1.May I get the same interest rate 15% for delayed period as the builder is claiming on its little amount for delay along with some Mental Harassment and legal fee compensation ?
2. From when and till when?

I have perused the contents of your query and would advise you to file a complaint under the consumer protection act seeking compensation for delayed possession from the date agreed for possession till offered. As per the ncdrc judgment a builder is also liable to pay penalty at the rate of interest equal to what is being charged by them for delayed payments.
Yes you are right as per many leading decisions of Appex court same interest rate shall be applied to both the parties if one party in his contract claims a certain interest rate on default.
We hv personally won similar case against BPTP titled Namita Bali and anr Vs BPTP Ltd.
pl meet some prudent advocate and file your claim case.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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