i am sathish one of the house owner D block in KG signature city. date of possesion ..god only knows..

Q: As per the contract they have promised to give on august 2012. but today i enquire them regarding possession they were telling me to wait till september 2013. more than one year delay in construction time..i dont know whether they will keep up the words in this time also?..actually unnecessarily i am paying interest.. but what theyare going to give as compensation is only 2 rs per sq.ft BUA. i m paying interest of 25000 per month. but incase if i am not paying regularly developer is imposing interest of 24%. but when it comes for compensation in delay 2 rs. p sft.

sathish L, Apartment Resident

23rd March 2013

Builder Review in KG Signature City Owners Residents Association, Mogappair, Chennai

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Replies (4)

Hello..even i am planning to buy.. suggest me guys..should i go for it or not..?

Vivek Kulkarni,

27th August 2013

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hi lekshmi, the 24% interest is ..if i am not paying my payment to the developer on time. they will charge 24% of interest on the outstanding payment amount.

sathish L, Apartment Resident

27th March 2013

Comment

Hi Sathish..builders generally don't promise the possession date on papers..does your sales agreement paper talks about the extension of the possession date..??? i think other owners are also facing the same situation..have you talked to them..you can together discuss this matter and come up with a solution. Join owners group of KG Signature City and discuss the same with other owners.

Santosh TR,

25th March 2013

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