Hello Everyone,
I need your casual advice, One of my friend received reminder letter from builder without any prior intimation in writing which says make payment of balance 15% of the contract value within 7 days of receipt of notice else he will be charged interest @18% pa and incidental charges. The Builder knows that my friend (the buyer) is not present in the city and go to know about the reminder/ noctice oly after 10 days. The buildr is trying to lure some more money by way of Interest and may be some false incidental charges by giving such short notice. Because in 7 days it is not possible to go back to the city where the property is and do all the formality with the bank to disburse balance loan amount to the builder. All this will at least take 15-20 working days. Meanwhile the builder will be entitle to charge interet and incidental charges on balance amount.
Please advice how should I advice my friend to adequately deal with malicious intention of the builder.
Thanks,
VKDwivedi
