Rahul 28 March 2016

Builder demanding for interest for late payment just before posession

I had done agreement with builder and made all my own contribution(20%,ST,VAT,SD,Registration) within 2 week of agreement. On his request i took help of his agent from SBI for my loan , that person delayed my work and finally flew away with my documents. A new Loan application was filed and this all delayed the Loan Sanction and disbursement. Even till last week i inquired he said your only maintenance money is left and you can take possession then. After paying that sales person is now saying that you have to give interest(1.65 lakh) for delay in payment(although from bank). Below are bullets: 1. I have made all my own contribution on time. 2. Have given full support to bank agent , kept following each day. 3. Till day Sales person has not told me about any interest else i would have done something about that. 4. I gave him 3 customers(although on humanitarian grounds), he should at-least consider that. It seems to be cheating as person who is eager to get possession of his flat would try and settle with him, as is told to me give in cash and we would settle. Please advice.

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2 Replies

G.L.N. Prasad (Retired employee.) 28 March 2016

Go through terms and agreement entered with Builder, there must be a clause for interest on delayed payments made to builder.

There is no obligation to Builder to arrange for a Bank Loan. If he has advertised as such and incorporated, then he is not having any rights to demand interest for delay.

First pay specifically writing on the covering letter paid under protest and then file complaint before District Consumer Fourm. that the obligation of Builder included arranging a loan, and he has made efforts and the delay is not on your part.

adv.bharat @ PUNE (Lawyer) 28 March 2016

1) Please read the Sale deed agreement for the terms of interest payed for delayed payment. If it was mentioned that u have to pay interest at the same rate u have to pay. calculate it whether it amount to Rs. 1.65 or less.

2) As general Maxim is " Buyer musst be aware". Hence u must take all precaution before finalization of any deal. Once deal is final then u can't make defence that i am unaware about that fact. It is ur duty to know all fact.

3) Builder is only helping u to get the loan. Here u can't blame to builder that he is involved in this. Since there no any such clause in the agreement.

4) Concern sales person is also not liable. Its u to decide and know all terms of the agreement. There for please concern advocate for further help.

Thanks