Delay payment from my customer not paying balance 25/%

785 votes

If your customer is not paying you remaining amount then you send a legal notice to him and tell him if not paying then you won’t do registration and u will sell it to others, approach us we will help you

Advocate Rajkiran Govindcar LawRato

720 votes

hi if he is not responding and not releasing the payment then you could send the legal notice to him for not releasing payment then you could file civil suit for recovery of money with interest for the period

Advocate Baddam Aravind Reddy LawRato

846 votes

Legal Analysis & Solution as per Indian Laws: 1. Legal Nature of Builder-Customer-Bank Transaction: In most builder-buyer agreements, the bank disburses the loan amount in stages, based on construction milestones and documentation. Once the NOC (usually from builder to bank, or from previous lender) is submitted, it is a key condition for releasing the final payment. 2. If the Customer is Deliberately Holding the Payment: This amounts to a breach of agreement if: The buyer has taken loan sanction. NOC and other required documents have been furnished. Payment is delayed without any valid reason. 3. Legal Remedies: A. Issue a Legal Notice to the Buyer: You can issue a legal notice demanding the release of payment within a stipulated time (usually 7–15 days), failing which legal action will be initiated. B. Approach RERA (Real Estate Regulatory Authority): If the project is registered under RERA, you can file a complaint under Section 31 of the RERA Act for delay or breach of agreement terms. C. Civil Suit for Recovery: You may file a civil recovery suit in a civil court or under the Commercial Courts Act if the value is significant, seeking: Payment of pending amount Interest and damages for delay D. Bank Involvement: You may write to the bank’s legal/loan disbursal department directly stating that the customer is not complying with the builder-buyer agreement, even after issuance of NOC. 4. Important Documents to Keep Ready: Builder-buyer agreement Sanctioned loan letter Stage-wise payment schedule NOC copy Correspondence/emails with the customer and bank

Advocate Venigalla Srinnivasa Rao LawRato