My builder in Noida has asked for the final 60% payment for my flat bought under a 40:60 payment plan. However, they haven’t given me possession yet, and the Occupancy Certificate (OC) hasn’t been issued. They’re promising possession and the OC after I pay, but I’m worried because I chose the 40:60 plan to avoid this risk. They’re also threatening penalties if I don’t pay. What are my options? Should I send a legal notice or go to the consumer forum/Noida Authority? Will I have to pay penalties if I don’t pay the final amount? Can the builder demand the final payment without offering possession or the OC? I’m really concerned.

Apni Law
Apni Law
Law Forum › Category: Property › My builder in Noida has asked for the final 60% payment for my flat bought under a 40:60 payment plan. However, they haven’t given me possession yet, and the Occupancy Certificate (OC) hasn’t been issued. They’re promising possession and the OC after I pay, but I’m worried because I chose the 40:60 plan to avoid this risk. They’re also threatening penalties if I don’t pay. What are my options? Should I send a legal notice or go to the consumer forum/Noida Authority? Will I have to pay penalties if I don’t pay the final amount? Can the builder demand the final payment without offering possession or the OC? I’m really concerned.
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Apni Law Staff asked 3 years ago

My builder in Noida has asked for the final 60% payment for my flat bought under a 40:60 payment plan. However, they haven’t given me possession yet, and the Occupancy Certificate (OC) hasn’t been issued. They’re promising possession and the OC after I pay, but I’m worried because I chose the 40:60 plan to avoid this risk. They’re also threatening penalties if I don’t pay. What are my options? Should I send a legal notice or go to the consumer forum/Noida Authority? Will I have to pay penalties if I don’t pay the final amount? Can the builder demand the final payment without offering possession or the OC? I’m really concerned.

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Best Answer

Apni Law Staff answered 3 years ago

As per the Real Estate (Regulation and Development) Act, 2016, your builder cannot demand the final payment without providing possession and the OC. You have the right to withhold payment until these conditions are met. You can send a legal notice demanding compliance and consider approaching the consumer forum or Noida Authority if the builder continues to pressure you.

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