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Harassing & demanding interest of offer of possession


03-Sep-2023 (In Recovery Law)
Hi! I bought an apartment under construction linked payment plan. I defaulted some of my installments due to various personal reasons. Now, final possession is offered by the builder with a levy of 6 lacs as interest @ 18% on my delayed payments of Rs.5 lacs. like AMC(advance Maintenance Charges), IFMS (Interest-free maintenance), Meter charges & Metro cess from Mar 2018 to date. Is he can charge on advances of AMC/IMFS Meter charges ( still not installed) etc?nThe project is also delivered late by the builder for nearly 3 years.Now, when I am settling my all dues I am asking the builder to pay me the penalty at the same he charges from me but he is adjusted only @ 5/- Per sq ft size 1215 as mentioned in FBA on the builder's part for delivering the project late. nnnIs this fair practice?nCan I get any legal help?
Answers (3)

Answer #1
637 votes
Ideally terms of agreement between buyer and seller must be fair. penalties applicable on you for default of payments must also be applicable to the builder on default on his part. however properly girl advice can only be given once all the documents are considered. should you like to proceed you make contact me.
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Advocate Kunal Seth

Adv. Kunal Seth

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Answer #2
593 votes
If they are not listening to you then you can send them a legal notice and in that notice you can write either refund my money back along with compensation or face legal action. And if want to go legal then you can always forward a written complaint to the police station of your area. For more legal assistance I am just a call away.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRatoDelhi | 1000+ Answers
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Answer #3
777 votes
Hi, To ascertain your rights and liabilities we need to look at the FBA and other documents related to the purchase. If the agreement demonstrates that the builder is indulging in unfair trade practices and take appropriate action. Please feel free to reach out to me for further assistance.
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Advocate Kunal Srivastava

Adv. Kunal Srivastava

LawRatoDelhi | 100+ Answers
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