Legal Question in Real Estate Law in India

I have booked a 2 BHK flat with Omaxe Ltd., North Avenue, Bahadurgarh. The flat was booked in 2007 and they have offered the possession in Nov. 2011. I had applied for the loan from Axis Bank. While making the initial payments, the bank took about 4 months to disburse the laon.

Now Omaxe had levied interest @ 24 % annum for the delay of payment i.e. for 4 months.
Omaxe had delayed the project for 14 months and are offering the penulty @ Rs. 5000/- per month.
I request to guide me in regard to refund of interest from Axis bank.

Asked on 2/01/12, 4:03 am

3 Answers from Attorneys

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That you may go to the court for getting more interest and more penalty amount for remaining months from omaxe ltd. and you can adjust the amount with axis bank.

Answered on 2/01/12, 4:10 am

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www.lawconcern.com S.Seshadri www.lawconcern.com

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Why the loan disbursement was delayed? If there is no reason for the delay or if there is a false reason for delay, you can issue a Lawyer notice and file a case in Consumer Fora. www.lawconcern.com

Answered on 2/01/12, 4:43 am

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