Announcement

Collapse
No announcement yet.

Possesion Delays - Delay Penalties

Collapse
X
Collapse

Possesion Delays - Delay Penalties

Last updated: May 24 2010
0 | Posts
765 | Views
  • Time
  • Show
Clear All
new posts

  • Possesion Delays - Delay Penalties

    In most threads, I feel people dont know what should be the delay clause. In NCR and in South, normally buyers put in 0.75-2% per month of the agreement value as the delay cost to a maximum of 6 months after which you have option to cancel minus the costs and interests to be paid up by the builder, and it is deducted while making the final payments...however most builders dis-agree to this but some big builders do allow this clause like DLF,Unitech and Sobha.

    Please talk to your bank for such clause to be included in black and white - make sure that some other clause (or fine clause does not make this particular clause null and void....

    Talk a good lawyer and good bank and you should be through....
    Last edited May 24 2010, 05:24 PM.
Have any questions or thoughts about this?
Working...
X