Dear learned lawyers,
I had booked a flat in Dahisar, Mumbai in 2010 and got the agreement duly stamped and registered. There was a particular schedule for payment of installments as per the progress in construction. I had taken a bank loan after paying the first 20% and bank was paying the installments as and when the demand letters were raised, but routed through me. There was no problem in timely payment till the last (19th floor) of the building was slabbed. But, the second installment (out of five) for the garage got delayed as the cheque which was sent to the builder got lost or was not purposelynot presented in the bank by the builder for vested interests and, since I was outstation for a month, I did not know that payment had not gone through. Now after a lapse of one month they have sent me a unilateral 'Termination Notice' citing a certain clause in the agreement saying that the agreement stands cancelled and they will dispose of the flat as per their wish and return my original paid money back because I delayed the garage installment. They are not ready to withdraw this notice even when I agreed to pay the pending installment along with the interest charges on it. They are insisting now that to withdraw the 'Termination Notice' I will have to sign another fresh agreement, which includes certain development and infra charges which would come to nearly Rs. 1000/- psf over and above my original agreement charge, which will be a heavy burden on me. This strategy they are pushing on many other buyers day by day using this 'delay of payment' reason.
Sir, in such a case what stand should I take as I am in deep anguish because already the project has been considerably delayed; and I have to pay for my rental accomodation as well as bank interest and they are also going very slow with the project purposely so they can throw away old customers who bought at lower rate or force them to pay heavy extra charges citing the delay of payment reason as the present rates have increased considerably.
I would be immensely thankful to any expert who could advise me on this matter as I am undergoing deep mental stress and anguish over my already strained financial status due to this unjustified and forcible harrasment by the builder.
FYI, this is a huge project with more than 3000 flats and all are suffering one way or the other.
Thanks in advance!!
Rudolf R.
A harried investor
