Hi All,

First time poster here. I have a flat in Mumbai from DB realty in their project orchid Ozone. We have to make our payments in slab. I've made payment for the first three slabs but I'm short on cash for the fourth one.

Just wanted to know how much time ideally does a builder give to make a slab payment and how long before they take any action.

Can they terminate my flat without informing me?

Thanks is advance.

Richard
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  • Depends on what is mentioned in your agreement as remedy available to developer in case of default in payment by you.

    However, in most cases, developer does not have the right to cancel allotment of the flat without informing you. Typically, they will have to give you a written notice to make payment within a certain number of days failing which, they will have the right to terminate.

    Practically, developer will give you some grace days but will start charging interest after that...
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