Minimum time frame for giving a payment notice

Any Notice should be at least 3 weeks time notice and the time starts from the date of the receipt by the respondent or the person the Notice is addressed to , again even if 2 weeks Notice same rule there is no one week notice principle.

You send a counter Notice to the builder why he failed to deliver as per contract  agreement he signed with you under sale f flat . agn ask him where is the interest of 18 %he should add from the date of his default and again you ask him why you should not move liquidated damages against builder by a proper legal notice by an advocate as he might take you for granted.

Builders are callous in responding to flat buyers.

Also ask him that he has to pay you 18% on the 80 % moneys you paid to him against the purchase agreement in connection with flat purchase as the sale agreement of flat is an irregular document legally when there is no flat in existence at the time of a  future sale of flat, as under transfer of properties Act there is nothing called future property but only property that is existing t the time of contract of sale, under law as law works on facts that really exist at the time of any contract.

Future contracts are called forward contracts only but flats sale if under forward contracts, naturally the builders cannot ask any escalation of prices too.

you can question under various premises of law.

but you shd carefully word  your reply notice so go to a competent lawyer of properties that man only can help you by advocacy principles. 

Move consumer complaint under deficiency of services and claim compensation as is to be claimed as suggested by the post above, as today SARFASI Act 2005 would get a short shrift by court by using the doctrine of severability of the sec 34 of the Act which bars civil courts sooner than expected as arbitrary action by banks' authorized officers when handling matters of borrowers as that very Act is itself a great unbaked Act though it sassed through many eyes in legislature as arbitrsry fuction is the order of he day since 2005!      

Since you were aware of the fact that the builder was supposed to hand you over the building around one year ago, you should have been in a ready condition to clear all the dues to  takeover the building?  As a matter of fact the builder has actually given you more than a year's time to be ready with the cash for taking over the flat, but you had been very casual in this aspect, now since you have received a notice giving you a very short time, you jump and yell blaming your builder for not  giving sufficient time.  You are in fact knowing the progress of the construction for the past one year and had been monitoring the same, so sense of settlement of balance amount should have been warning you all the while but now you come out with lame excuses.  HOWEVER YOU CAN GIVE A REPLY  TO THE BUILDER REQUESTING HIM TO EXTEND THE TIME FOR PAYMENT BY ANOTHER 15 DAYS,  WHICH HE MAY CONSIDER.   There is no remedy through legal course for this because there is no deficiency of service by the builder, in case if there was one, you should have brought it to the notice of he builder long back.

First of all thank you all for replying.

Now I have certain points to say and specific questions to ask both of you.

As Mr. Kalaiselvan has mentioned thatI was aware of the fact that the builder was supposed to handover the flat an year ago, yes you have correctly said. But having been informed what should have I been doing? Going to my banker every month and asking them to disburse the amount and cancelling the same on the date of disbursement?

So once I get the notice of completion and payment notice then only I can approach the bank, Am I making sense? And that too would require more than 5 days to process and verify the completeness of the flat and disburse the amount, right?

Then rest of the amount which I need to bear from my pocket, what could have I done? Made it fully liquid and wait for the notice and loose interest on the same? I need to go to my bank, liquidate the same and send it to the builder? I expect that would take more than 5 days, right?

I have never been casual, rather the builder had never posted me any update on the development of the said flat, more they had restricted my visit to the said flat. How can I know when they would suddenly throw me a notice of payment?

Now if the builder can do so, cannot I would have done the reverse, saying here is the payment and you have crossed the expected date of delivery of the same and hand it over to me within next 5 days? This is specific question to Mr, Kalaiselvan that if he thinks that the builder has done the right thing then I would also been right sending the said notice? Please let me know.

I don't want to beg time from the builder and what I want to do is to know the law which can back me up even if I don't pay within that time of 5 days.

Dear Mr. Kalaiselva, Why do you think that there has been no deficiency from the builder end? He had missed the timeline and never ever intimated me about the same.

I have a specific question to Mr. Balakrishnan,

When you are saying that "Any Notice should be at least 3 weeks time notice and the time starts from the date of the receipt by the respondent or the person the Notice is addressed to", is there any such law that states the above mandate or is it a general practice? When I am sending a counter notice I need to be very sure that there is law guarding my statement, please throw light on the same. Yes you are right, the builders behave like authorities and set rules as per their will, yes I know still the real estate market is unregulated, but there should be basis things that should abide by.

Also in this connection I would like to mention that can I legally ask for Copy of Occupation certificate that might have obtained from respective authorities before making final payment? Is there again any law that would back up my ask here? Also as per the Terms and Condition of "Agreement of sales" that we (myself and the builder) signed at the time of purchase of the flat, that the builder would pay me compensation per month for the delay in handover of the flat, I haven't received the same, can I ask the builder the pay interest on the amount accrued at the end of each month?

Thanks once again to both of you for your wonderful reply.