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sandeep (SE)     02 October 2014

Tri party aggrement

Hi ,

 

I am from Chandigarh and I purchased one flat in Zirakpur in 2011.During Purchase builder has given me some days Linked plan fro payment which i signed with the assurance from builder that when u want to avail the loan it will be converted in to Construction Linked .Later when the Construction started i entered into to Triparty aggrement with Bank and Builder in Which the payment plan was according to Construction.Bank did the disbursements as and when demanded by builder.Now when the posesion time is near builder told me that I have to pay 5 lakhs interest  for late payment as my plan was Days Linked.But when i asked that we have entered into Tri party Aggrement then builder told he wont consider that.In some demand letters they have charged me interest during 2011-2014 but when i checked with their staff they told me to ignore that as I am having a bank loan.There was no clear communication that i will be charged interest from builder side and i was under assumption that bank is releasing money on time so there wont be any issue .They were ready to give me 50% discount on this 5 Lakh.With every customer they are doing like this.So Can i go ahead with Consumer case  and this Tri Pary agrrement will be a valid document?Also for consumer case can i go ahead with copies of these Tri party and Builder Buyer agreement as Original document are with bank.Please guide.

 

Thanks



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 1 Replies

Rangee (Lawyer)     04 October 2014

Please post a copy of agreement to give a correct reply. It is understood that the bankers have sanctioned loan amount to you and payment has been made to builder as per your consent in the agreement. The agreement ends there. As regards to agreement with builder you should have executed a saperate agreement which defines the belatedly payment etc of Bank. Therefore the agreement executed with Bank is enforcable with Bank only not against the builder. 

R.S.K.Singh 


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