Q: Builder has taken all the bank installments Except last one of 1.5 Lacs.
I am dealing with Jori builder for their buildin in Mann,Hinjewadi, Pune. I booked the flats in Jan 2012 and possession was promised in Oct 2013. Build has not given possession yet and explains many technical reasons and is demanding late fees now to pay. Which according to Agreement is 24 %. He is also telling me that I can cancel the flats and can take money back(Excluding interest paid by me since last April 2012. He is asking 5.5 Lac as late fees. He says that market prices has been increased now and I must pay extra money in terms of late fees. I asked him official letter of this demand. He is not sending the letter and not giving possession. Please GUIDE me in this case. I am not able to understand what to do in this Black mailing scenario...
Hi I m also facing a similar problem, I booked a flat 3 years back for rs 25 lakh. Now the builder is demanding us to pay Around 37 lakh for the same flat. Everything was hidden in the agreement!! 1) Buildup area was tentative 2) It was written that administration charges will be charged, but how much was not mentioned 3) EDC may increase 4) It was mentioned in the agreement that the construction coast may increase but how much was not mentioned. Now we are asked to pay the increased amount and then only we will be given the possession. I am not sure what can be done. I am feeling miserable. I have learned a lesson of buying a property only after legally scrutinizing the sales agreement or buying only a ready to move in property by the c grade builders.
Hi Amit, You should unit with other owners and should seek a legal advice. If you are paying all the installments on time in that case the builder can charge you any late fee.