Regarding interest on payment default on flat booking

udaybhanu (Querist) 04 October 2013 This query is : Resolved
One of my friend booked a flat in Kolkata and as per his agreement with builder he was suppose to make staged payments according to progress of the construction.

But for some reasons he had delayed making the staged payments number of times. Now the construction is complete and he ahs also made final payment.

Is it possible that the builder can ask and insist for interest for the period he had delayed the payment, before he hands of the flat to him.

The agreement does not have any such clause, if the payment is delayed builder can charge interest.

Is there any supreme court ruling on this topic recently ???

Thanks and regards,

U. Moharana

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ajay sethi (Expert) 04 October 2013
the terms of agreement are sacrosanct. if there is no clause regarding interest for delayed payments builder cannot levy interest

Rajendra K Goyal (Expert) 04 October 2013
For rulings search indiankanoon.com.

Raj Kumar Makkad (Expert) 04 October 2013
We do not provide te desired judgments on this site.

Guest (Expert) 05 October 2013
I endorse the views of Shri Ajay Sethi.

prabhakar singh (Expert) 05 October 2013
In absence of agreement builder can not legally charge any interest.Why are you apprehending in advance.Your case does not require any citation.

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