Q:I have booked a flat in Oct 2009 in Ackruti Countrywoods Pune. The tentative date of Possession is Dec 2011 in agreement. But Still the Progress of work is too much delayed.The builder is asking about the 1 year extension period for the possession which causes me the financial losses like at the time of possession the period of 3 yrs of fixed rate of interest will terminate and will go in floating rate of interest. Also, presently paying rental. I asked the project manager that plz take the Rest of the payment in full while giving me the possession like 40-60. Is right or wrong? Presently I am paying only interest on the Disbursement amount paid by bank to builder further EMI will tally after full payment and the tenure will come exactly.
Latest Answer: I can understand your problem. it is just in the hands of the developer who decides the possession date depending on completion rate. You can take any legal help or speak to your bank branch manager to come up with any solution and reduce your problems.
