I booked the flat on 21st August and on 27th of August I got an email from Siddha regarding the first 30% payment which was due by 26th of September. I never received any other demand during that time. But now Siddha is claiming interest on 4th demand which generated on 9th September with a due date of 24th September. How this can be possible? asking for 4th demand even before pay of date first three installment?

I got to know about this 4th demand on 21st of November and straight away I called Siddha raising my concern and also sent several emails. Since the matter was under discussion, the interest accumulations should had been frozen. But they took more than 3 months to take any decision but they still continue to accumulate the interest. Now they are penalizing myself by the Interest.

Also, they failed to produce any proof which shows that Siddha communicated me on time regarding the 4th demand.

Bank paid 7000 extra which Siddha adjusted with Interest Due amount even though I did not approve that. They confirmed me that this advance payment would be adjusted with next payment. However, they did not follow the instructions and adjusted this with the in question 'Interest Due' portion.

Need suggestions or guidance from anyone who has any prior experience on such matter. I am thinking of reporting this to Consumer Forum. Does it help anyway?
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  • @Nabajit Keep paying them on time or else they will always charge you and on the other side send them a formal notice of this complaint and raise it with Consumer Forum. They cannot demand 4th payment till you have signed the agreement which is pending due to the first 30% not paid. Now having said this they can charge interest on the first 30% if you have failed to pay on time or within the stipulated period. They are right to charge during discussion also as its your prerogative to pay on time.