Apni Law Staff asked 2 years ago
I’ve paid half the price for my flat, but the project’s appreciation has been slow. The builder never asked for the remaining payment, saying I could pay later. Now, he’s demanding 24% interest on the balance for two years! He claims he and my father have a good relationship, so he never pressed for the rest. We had an agreement too, but it felt like a formality at the time. Later, I discovered a connecting road to another society and nearby plots were also for sale – information he never shared. I’m really unhappy with the project and want out. How can I avoid paying interest on the balance?
Best Answer
Apni Law Staff answered 2 years ago
You might be able to challenge the 24% interest based on the lack of a clear, written agreement about it. You can also argue that the builder’s failure to disclose crucial information about the property’s value (the connecting road and nearby plots) constitutes a breach of contract. Consult a lawyer to assess your legal options and explore potential remedies, including seeking a refund or renegotiating the agreement.
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