I recently purchased a flat in Asiad Village, Delhi. However, the builder charged me late payment interest on a demand raised during the transfer of the property to my name. I have all the relevant documents, but the builder is charging an exorbitant rate and refuses to rectify it. Can I take legal action?

Yes, you can take legal action against the builder. Under the Real Estate (Regulation and Development) Act, 2016, builders are legally obligated to charge only the prescribed rate of interest for delayed payments. You can approach the Real Estate Regulatory Authority (RERA) or file a civil suit in a consumer court to challenge the exorbitant interest charged by the builder.