Announcement

Collapse
No announcement yet.

Are Slab Wise Payments Illegal or Not?

Collapse
X
Collapse

Are Slab Wise Payments Illegal or Not?

Last updated: March 23 2012
1 | Posts
863 | Views
  • Time
  • Show
Clear All
new posts

  • Are Slab Wise Payments Illegal or Not?

    I've invested in a project that has been delayed due to various reasons. Recently, the construction resumed and the developer started demanding installments based upon the agreed terms, i.e. completion of various milesstones. The problem is that we've come to know that the recent construction has been carried out without requisite approvals, and as a result financial institutions are not releasing any fresh disbursements. The developers building plan and CC beyond the plinth has not being approved by the BMC. Despite this, the developer has continued construction upto the 7th slab and has been demanding the regular slab-wise payments. In such a scenario, what strategy should I adopt? SHould I continue to pay or can I protest that without necessary approvals the construction is illegal ? The developer is a reputed (listed company) builder from Mumbai and seems unlikely that they would cheat.
  • #2

    #2

    Re : Are Slab Wise Payments Illegal or Not?

    Why dont you name the developer

    Hey why dont you name the developer and the project too for the benifit of forum members .... then only one can suggest future course of action...

    Comment

    Have any questions or thoughts about this?
    Working...
    X