I have purchased under construction flat in 2017. Immediately after agreement I availed home loan from bank.
Bank timely disbursed first few instalments. But during lockdown bank delayed disbursement of 5 instalments even after continued followup.
Builder has charged 1,65,000/- for delayed instalments.
During pre-booking phase we had clearly mentioned our dependency upon home loan for flat purchase.
Can builder levy penalties for delayed disbursement by bank?