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Project booked in 2011 now we received letter of possession in Jun 21
30-Jun-2023 (In Property Law)
I have booked a flat at Panchsheel Builtech Pvt Ltd project in Noida by the name of Panchsheel Green-II in 2011 jointly with my wife. Now few days back we have received a letter of possession in the month of Jun 2021 asking us to deposit final payment and they will handover the flat in 45 days. Our tower is partially completed and other towers yet to be completed. Now are we applicable for delay penalty payable by the builder? Can it be adjusted against our final payment? What if builder has updated the delay information and got approval for completion of project till march 2019. Please advice.
I have seen your query carefully and minutely. I am of the opinion that you should asked the builder to submit copies of occupancy certificate and compilation certificate. you should also asked the builder to adjust the panelty for delay possession. if failed to send you the copies of completion certificate and occupancy certificate then you can file a petition under Consumer Protection Act as well as in RERA. if you need any further information or clarification then please contact me without any hesitation
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Adv. Rajeev Srivastava
Ghaziabad | 400+ Answers
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Yes, you are entitled for delay interest and yes if you will file a complaint case at RERA and plead that final payment is adjusted with the delay interest then it can be possible that RERA will pass order in your favour.
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Adv. Prashant Chandra
Lucknow | 200+ Answers
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Yes the builder is supposed to pay you penal interest for delay in terms of sections 18 and 19(4) of fhe RERa act. You may claim set off of this interest against the final payment which you have to make to the builder. Send a legal notice to the builder in this regard, followed by a compliant case in RERA
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Adv. Vibhanshu Srivastava
Lucknow | 200+ Answers
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