Hello,
I have booked a flat in balewadi pune in nov-2010. Total agreed and registred amount of falt was 16 lacs inclusive of all. Builder has commited to give the possation by june-2011. but that could not happend till date!!
I have paid all the amount based on theire verbal request. (booking + part payment).
they have not provided any progress details to me. in march-2011 they have raised a demand letter (first and only) to get the amout from bank. and same day bank has relesed the payment.
after that, they have send me a notice (on builder's letterhead) saying that I am delayed in payment and I have to pay 22% interest per month. In agreement it was mentioned that in case of delay in payment, customer is lible to pay 22% interest per MONTH.
they cluse was mentioned in agreement. with the payment structure and all.
for example - at time of booking 10%
plinth work - 10%
first flr slab - 10%
second...
brick work - 10% and so on...
My question here is
(1)how come I know the progress of the building if they have not intimated to me?
(2)How can I know my liablity to payment as they have not intimated.
(3) Is 22% interest PER MONTH is valid???
(4) Am I liable to pay interest??
(3)Now I have paid all payment - what is my right on property.
(4) what builder can do if I am refusing to pay any further amount.
Please suggest. Your guidence will really help me to resolved this issue.
Thank you
