Fraud for interest charged on ovedue of payment schedule on Handover

Q: Hi Owners of elita promenade,
Reaching out to you in case somebody else also faced similar issue with them.
I have got handover document from them where I am supposed to pay great deal of money as interest for overdue of payments. Upon asking for clarification they have given me a doc saying all pending installments + 2nd 15% of purcase price should be given within 40 days of booking. I am sure most home buyers go for bank loan and it is not possible for Bank to approve/disburse loam amount within 40 days.
They never intimated us about this late payment before. Now they are letting us know when after wait of 3 years we are getting our flat.

Has anyone else also facing/faced this issue ?
What was the resolution ?

Thanks
Deepak

Deepak Agrawal , Apartment Resident

17th June 2010

Puravankara Elita Promenade, JP Nagar, Bangalore

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Replies (4)

Deepak
I think it will be good if we can come together and try to see what can be done. You can contact me at 9845591445

Thank you
Nagaraj

Nagaraj, Apartment Resident

18th July 2010

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Hi Deepak
Similar case with me. After the initial payment I delayed payment because I was not getting any responses for my questions about the progress of the project. Now they are demanding interest payment for the delayed payments. The sale/construction agreement is totally one sided because if they delay they don't pay interest at the same rate to the buyer.

Nagaraj

Nagaraj, Apartment Resident

17th July 2010

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Deepak
I am also facing same problem . If you contacted any one what is there response

Thammanna,

25th June 2010

Comment

yes i am facing the same problem

seema,

19th June 2010

Comment

Hi Folks,
I was recently at CFU for the handover and realised that the Acceptance document is extremely once sided document which hands-off all responsibilities from the builder, did any of you folks sign the document?
Vikram

reema rao,

31st July 2011

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