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High Interest rate Towards Late Payment Charged By Builder
05-Oct-2023 (In Property Law)
Hi, I booked an affordable flat in Sohna District Gurgaon for 17.65 lacs Dec 2018. As this was ready to move I paid 15.77 lacs within 2 months and balance I told the sales guy I will pay 2 lacs and remaining after they get OC. But the sales guy wrote to me by WhatsApp that I should pay balance after OC is received and he asked me not to tell anyone about it. Finally when they got OC in May end I took possession and moved in. Now builder is asking me to pay 52 thousand as late payment interest charges. I am shocked as their sales guy asked me not to pay balance until OC is received. I refused to pay and even showed the chat messages but they are refusing to listen. Can you please guide me what I should do. How is the interest calculated? As per BBA, it is 15% per annum. It is also mentioned that notice will be sent as reminder but I did not receive any such notice nor reminders. I request your guidance in this matter.
not to worry, you have a prima facie strong case. firstly, we will have to see whether there is any delay in the offer of possession or any other lack on the part of the builder vide which we can get them to compensate us or to nullify the penalty being imposed upon you. secondly, apart from the proofs of the payment not being delayed, the burden of proof would be on the builder to prove the prior reminders sent to you in this regard. Lastly, if the agreement mentions a low rate of interest to be paid by the builder in case of default on the part of the builder, then that can be used to your advantage to agitate upon the unfair rates of interest being imposed on you.
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Adv. Akshat Mittal
Panchkula | 100+ Answers
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