Apni Law Staff asked 1 year ago
My builder charged me a hefty 18% interest for a slight delay in my payment, but offered a tiny compensation for their own much longer delay in handing over the flat. They even calculated full months for minor delays, avoiding their own penalty. The entire project was delayed by over two years. Now, with the flat finally in my hands and the registration complete, can I sue them for the same interest rate they charged me, for their own delays? Plus, they took cash during the registration process, possibly for bribes.
Best Answer
Apni Law Staff answered 1 year ago
While you can potentially sue for damages due to the builder’s delays, claiming the same 18% interest rate may be difficult. Indian law typically allows for reasonable interest on delayed payments, and 18% might be considered excessive. You may also be able to pursue legal action for the cash transaction during registration, as it suggests potential bribery and violation of regulations.
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