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Do I have to pay Interest on delayed payment
29-May-2023 (In Property Law)
Builder has exceed probable date of complication by 3 years.... Do I still have to pay interest on delayed payment... I have made payment late. But project has also completed late.
Payment of interest is matter of agreement between you and builder.if there is delay on builder's part you can talk to him regarding waiver or you can approach court for that as applicable .it is important whenever you received demand letter you have to pay with out delay.
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Adv. Puja Shrivastava
Delhi | 100+ Answers
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I I need more details about the project and your case to guide you in proper order.
Such as is the project ready
What's the amount of interest the builder is asking
Is he refusing to give possession ?
Such as is the project ready
What's the amount of interest the builder is asking
Is he refusing to give possession ?
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Adv. Anjali Rajput
Delhi | 25+ Answers
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Interest on late payment depends upon the terms of the agreement. Ordinarily the agreement has provision for interest for delayed payment. However as there is delay by the Builder in delivering possession, he is liable to compensate for the same.
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Adv. Ekta Mehta
Delhi | 25+ Answers
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