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Builder has added extra interest amount, which he never commun before.


01-Sep-2023 (In RERA Law)
I had bought a flat in Lucknow in 2015 by bank loan on percentage completion payment method. The builder kept sending payment demands as per construction last 4 years. The bank used to disburse amount to builder when demand came. All of a sudden builder has sent me big extra interest amount, showing delay in demand payments for last 4 years. He never communicated to me about any such delay before. Now he is quoting 18 percentage written in agreement to put this extra late payment interest amount for last 4 years. No delay was communicated ever before. All of a sudden big interest amount for 4 years has come, now at time of final payment & registry.
Answers (1)

Answer #1
971 votes
yes, you can file a complaint against builder and there are very high chances of positive results, as the situation faced by you has become very common and the courts are aware of such cheating by the builder. Moreover the apex consumer has also ruled that the builders cannot charge exorbitant interest on delayed payment when they themselves gives such low rate of interest on delayed possession.
you can contact me for further legal action
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