Q:at the time of of booking company sale person told me that company have a scheme name subvention in this scheme company can pay all bank interest of bank loan till possession . at the time of agreement possession date is December bt project is delay . now company tell me that company pay only interest till December because he already mention in tripartite agreement that assume possession date is December . sir what kind of legal option i have now ? i have also a hand written document of company employ which show that emi start after possession. kindly guide
Latest Answer: Yes, you are right Abhishek.
Builder is trying to cheat him. A subvention scheme in which the homebuyer pays 10-20% of the price of the apartment at the time of purchase. The balance is paid by a bank to the developer as a loan under a three-way agreement between the developer, the buyer and the bank. While the project is under construction, the developer pays the interest on the loan to the bank. The bank disburses money to the developer as construction progresses. The buyer's EMIs begin only after he gets possession. So, i will only suggest you that plz. don't pay any interest to bank or the builder.
