Validity of onesided agreement - apartment owner's extortion.
panna lal nawalkha
(Querist) 05 August 2012
This query is : Resolved
Ihad taken a flat in jaipur. agreement says if you delay payment,they will levy 18% INTEREST. IT ALSO MENTIONS THAT FOR DELAYED CONSTRUCTION THEY WILL COMPENSATE BY RUPEES 50 PER SQY FT/MONTH. THE FLAT WAS BOUGHT @1500/SQ.FT. THE PAYABLE INTEREST COMES TO RS.3.33 PER MONTH,WHEREAS CHARGEABLE INTEREST FOR ONE FT PRICE IS RS.22.5. KINDLY GUIDE ME HOW TO TACKLE SUCH EXTORTIONISTS
V R SHROFF
(Expert) 05 August 2012
THIS IS YOUR MUTUAL AGREEMENT.
How can we or court interfere??
You also enjoy appreciation of price, @ Rs. 50/ Sq Ft p m!!So Profit more than you pay.
It is give and take.
Purchaser is always at profit in Real Estate.
ajay sethi
(Expert) 05 August 2012
the terms of contract are sacrosant . before entering into agreement you should have gone through the clauses of agreement . if it mentions 18%interest for delayed payment then you are bound to pay the same .
