Venu Taduka 28 February 2018
I bought 2 bed in Taloja in 2015 which cost me 40lacs , I paid booking 13 lacs + 2 lac parking then after 6 months I paid 1 lac, then after I didn't paid anything due to my financial problem and also I couldn't able register this property bcoz financial problems but developer keep on charging me 24% interest rate as delay payment charges, now it's mounted to 7-8 lacs penalty fee.
Is there any fix delay payment charges by law?
R.Ramachandran (Advocate) 28 February 2018
There is no such law. It is as per contractual terms agreed by you.
Venu Taduka 28 February 2018
as it is 24% which is too much high, cant they reduce to 10% as per new RERA rule or if i take any legal action is it possible that they will reduce this charges, or i dont have any option rather than paying as per 24%
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