The project developer has levied 18 per cent interest on total cost of their flats for delaying the payment.
A group of home buyers in Casa Greens, a high-rise project of Radhe Krishna group in Greater Noida West, has complained against the project developer for allegedly levying 18 per cent interest on total cost of their flats for delaying payment. They, in fact, have lodged a complaint with Greater Noida bench of UP-Real Estate Regulatory Authority (RERA) to intervene in the matter and help them in getting the possession of their flats at the earliest.
Moreover, the buyers have also alleged for changing the layout of the park and commercial shops to be developed there. Buyers, in their complaint to the RERA, said they have been raising this issue time and again but no action has been taken yet from the Greater Noida Authority.
Sharad Kumar, one of the complainant said, “I paid around 95 per cent of the amount by December 2016 and the possession of my flat was due in June 2017 whereas the possession letter was issued on July 2018. I mean, the letter itself got delayed for one year then for what reason the interest was levied on me?”
When City Spidey spoke to Ashok Singh, general manager of Casa Greens project regarding the matter, he said that possession of these flats have already been offered but instead of clearing dues, they have approached the court.
“We are levying interest on those who have paid their dues late which was clearly mentioned in builder-buyer agreement. We are ready to adjust if the delay is from our end but if possession was offered on time and buyers delay in making the payment then they have no other option than paying the due amount with interest.”
“They had already file a case in the court and now they have approached UP-RERA too. We will also put forth our side before the RERA and will follow the directives given pertaining to the case,” Singh added.
