Agreement

nishant gahlawat (Querist) 06 September 2011 This query is : Resolved
dear sirs, i have booked a plot with a real estate company. i signed the agreement with them which included the payment plan.
the EDC(extra development charges) was to be paid in four equal installments i.e. 25%each time.
there was no mention of interest on EDC installments in the agreement.
now the company has started demanding interest on these installments which in turn have increased our cost.
what remedy i have.

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nishant gahlawat (Querist) 06 September 2011
note: i have already paid my total EDC cost.

Raj Kumar Makkad (Expert) 06 September 2011
Company is not entitled to claim any interest contrary to the terms of agreement duly executed between both of your contracting parties so you serve a notice and demand withdrwal of illegally raised demand of interest failing which file a suit for specific performance for the execution of the mentioned agreement.

ajay sethi (Expert) 06 September 2011
the agreement is sacrosant . if the agreement does not provide for interest the company cannot demand interest

Devajyoti Barman (Expert) 06 September 2011
Yes, file complaint before the consumer forum if the company persists on the interest.

prabhakar singh (Expert) 07 September 2011
what remedy i have.???
Your options as already suggested are many fold but one suggested by Mr.Barman is speedy and less costly so as to give you a good trade off among remedies available to you.

Heaven 2011 (Expert) 09 September 2011
Yes i do agree with Mr. Barman and others.\ But before you lodge any complaint you may send a legal letter to the company explaining the company that their such claim is in the violation of the existing agreement.

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