Why Developer in Mumbia, cannot be charged for delay in delivery of Apartment to the customers? Where as if we delay in payment of the Demand Letter the developer will charge 21% Interest. There has to be some short of law regarding delay from developer. As we put our hard earned money in buying an apartment and the developer will take all the benefits. Suggest how we can fight in there is a delay.

The builders now have a penalty clause in their agreements with buyers. Most Developer prepares conditional agreement where they can delay project by two or more years. But such things can be prevented if buyer reads all agreement and ensure that developer has included compensation clause in the agreement. You can contact your legal expert to know more about compensation clause. According to National Consumer Commission, a buyer is entitled to opt out of a housing project if there is a delay in delivery of possession of the house by the real-estate developer. The buyer is also entitled to a full refund with reasonable interest and any deduction on the amount