HI i have booked a flat in GAURSONS VALERIO.At the time of booking i paid full 10% of basic cost but now they have send me demand note for second installment of 30% with penalty interest on the booking amount as well as on 2nd installment due date for which was 2nd AUG.they have send me demand note today.

I want your views on 2 things

1. how could they charge penalty on booking amount.
2. As far as i know that i have to pay second installment after the DEMAND NOTE is received.Don't builder's give little bit of grace period.

please answer at ur earliest
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  • Have you paid 10% of BSP+Service tax at the time of booking? If yes, then the next installment is only at Or before the time of 2nd installement.

    However, if the time limit is exceeded, and if the builder is asking for interest, then you may request it to waive it off.
  • I have paid 10% of BSP+ST at the time of booking.
  • HI , Request the builder to waive off the penalty citing a decent explanation and assure to pay as soon as possible.