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Dev (SE)     05 December 2010

What is the omponsesion for delay in possession of Flat?

Hello Sir,

I am booking a flat and want to know what is the Flat Act in Karanataka for componsession

Builder is proposing Rs 5 / sqft area. Is this amout ok? I do not find it ok compared to the pre EMI i will have to pay to the Bank. Please advice.

 



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DR.P.L.NAWALKHA (COUNSELLING CANCER)     05 December 2010

COMPENSATION SHOULD CALCULATED AS PER HARDSHIP FACED BY FLAT OWNER AND CIRCUMSTANCES RESPONSIBLE FOR DELAY. 1 IF PROSPECTIVE FLAT BUYER IS TAKING FOR PERSONAL RESIDENCE,AND HE HIMSELF IS LIVING IN RENTED HOUSE,THEN ALL FINANCIAL COMPENSATION ON ACTUAL REMITTANCE BE MADE,FOR THE PERIOD OF DELAY. 2. IN OTHER SITUATION 12% INTEREST ON PAID UP INSTALMENTS OR PRESUMPTIVE RENTAL RETURN FOR DELAYED PERIOD BE REMITTED FOR DELAY,WHICHEVER IS LESS COMPENSATION IS ESSENTIAL IN ANY OF SITUATION,EXCEPT IN CASE OF DEMISE OF BUILDER/NATIONAL EMERGENCY.


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