Can we as Builder to pay the loan instrest upon cancellation.

5 years ago

Dear Sir/Madam, Kind advice is requested in the matter, where I have cancelled a Flat due to unexpected developments in the structure. and the builder has agreed for cancellation with no deduction. Now the Bank Interest is 50000/- nearly, can we ask the builder to bare the interest.

I have waited for nearly 2 years for the project completion since its foundation, now all of a sudden there is a GYM/Party hall, on my flat which I was not informed about through out the project. Now when the wall of my flat and plastering is happening I am asked to cancel if not interested.

Kind help appreciated.

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GANESH SHARMA

Responded 5 years ago

A.Pay the principle amount to the bank and if case they file suit for recovery made the builder as one of the party to the suit

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Ashutosh & Co

Responded 5 years ago

A.yes

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Shantaram Changdev Bedekar

Responded 5 years ago

A.Yes you can ask him to bare the interest Cost

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Anonymous

Replied 5 years ago

Dear Sir, He is denying saying that I have cancelled by myself, he is not suppose to bare the interest. will he pay it ?

Ashish K Dongre

Responded 5 years ago

A.Yes you can ask builder to pay interest, issue him a legal notice for the same.

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Kishan Dutt Kalaskar

Responded 5 years ago

View All Answers

A.Dear Sir,
No need to pay interest let the party go to court.

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