[Resolved]  Aliens Developers — Delay in Flat Handover & Interest amount on Advance payment- Flat No.: 559, Station: 10

Address:

H.No.: 3/188, Behind Hemareddy Mallamma Temple, Post : Bemalkheda, Tq: Humnabad, Dist: Bidar, Karnataka State.

Delay in Flat No.: 559 handover by Aliens Developers Pvt. Ltd. Hyderabad.

Dear Sir/ Madam,

Sub: For the delay in Flat Handover & it's Interest on advance & initial payment – Flat :559, Station: 10

Ref.
1. AOS dated :[protected],
2. Email by Aliens dated :[protected] for the payment cleared up to the 9th floor with advance payment of Rs.15Lakhs.
3. Email by Aliens dated :[protected] for the statement of account showing the total balance amount of Rs.2440001/-
4. Reminder Email-4 dated :[protected] for the delay in 559 Flat Handover & it's Interest on payments to Aliens Management.
5. Reminder Email-16, dated :[protected] with correspondence Emails from last 3years for the delay in Flat handover & interest on payment.

I have made an initial payment of Rs.4125000/- in 2018. As per AOS -Flat No. 559 to be handover by date:[protected], now it is going to delay by more than 4 1/2 years is a very serious issue (the date is decided in the negotiation & as per the AOS - from the date:[protected] the Flat-559 to be handover within 36months with grace period of 6months). By this delay I am under huge loss by paying the Interest to the Bank Home loan.

One fine day I got a call from Aliens team for requesting me for an advance payment of Rs.15 Lakhs till the 9th Floor completion with an interest of 14.3% per annum for a period of 12months to finish the 9th floor by date[protected]Refer the Aliens Email dated :[protected]. Accordingly, I made an advance payment of Rs.15 Lakhs. But as per present progress the 9th floor may be expected by July-2023 by this there is a delay of 25months & this delay is costing on me an interest amount of Rs. 446875/-. In this regard I am requesting Aliens team to return the Interest amount or it will be adjusted in my future due payments for the 12th floor Flat cost, but nobody is responding as per the mutually agreed terms of advance payment.

There is Long delay in 559 flat handover & also delay in advance payment milestones of 9th floor completion & this is costing me a lot on interest payments. Since last 3years I am communicating with several members of the Aliens team, but nobody is replying for the delay in flat handover & nobody is providing the Flat handover Schedule as per Annexure-B, As I have already made a Payment up to the 9th Floor completion (Refer the Aliens Email dated :[protected] & then any payment claims will be after 9th floor completion & for the next payment due at the start of 12th floor shall be by considering the Interest amount against Advance payment & interest on flat delay of more than 4years.

For the understanding:

Refer the Aliens Email dated :[protected] for the advance payment of Rs.15 lakhs till the completion of 9th floor for a period of 12months with attachment Excel sheet

While requesting me for the advance payment of 15lakhs by Aliens team, Aliens has planned to start the Transfer slab within six months from the date of Calculation (i.e. in the month of Dec-2020) in this condition the Interest will be for the 9months & afterwards Aliens team has revised the Schedule to start the Transfer Slab after the 9months from the date of calculation, i.e. the transfer slab has planned in the month of March-2021,

Accordingly the Interest rate has been calculated from the date of[protected] as below

Transfer slab = Rs.412500/[protected]@ 10% interest /annum * 9months = (412500* 10%)/12 * 9months = 30937.50371 ( Interest up to[protected]

3rd Floor = Rs.412500/[protected]@ 10% interest /annum * 10months = (412500* 10%)/12 * 10months = 34375.00417 ( Interest up to[protected]

6th Floor = Rs.412500/[protected]@ 10% interest /annum * 11months = (412500* 10%)/12 * 11months =37812.5 ( Interest up to[protected]

9th Floor = Rs.262500/[protected]@ 10% interest /annum * 11months = (412500* 10%)/12 * 12months = 26249.99 ( Interest up to[protected]

By this, the advance payment Interest is calculated for the period of 12months to complete the 9th floor, but same has been not agreed by me & the interest amount is increased from Rs.129375/- to Rs.185000/- @ interest of 14.3% PA, (You can refer the Aliens Email account statement dated :[protected] &[protected].
Original Calculation:

Particulars Payments made Months 10% Interest Rate
Transfer Slab 412500 9 30937.5
3rd Floor 412500 10 34375.0
6th Floor 412500 11 37812.5
9th Floor 262500 12 26249.99
Total 129375

Revised Interest calculation

Particulars Payments made Months 14.3% Interest Rate
Transfer Slab 412500 9 44240.63
3rd Floor 412500 10 49156.25
6th Floor 412500 11 54071.88
9th Floor 262500 12 37537.50
Total 185006.25

Presently the 9th floor may be finished by July-2023, by this there is a delay of 25months. Hence the interest on Advance payment of Rs.15 Lakhs will be Rs.446875/-

(Rs1500000/- *14.3 Interest / annum )/ 12 * 25months = Rs.446875/- (this amount may change as per the actual agreed milestone of 9th floor) & the same is explained to several members & multiple times, but the Aliens team is not agreeing for the interest payment.

Refer the Email account statement sent by Aliens Team on dated :[protected] for the interest amount of Rs.185000/- & balance Flat cost payable amount of Rs.2440001/-,

Now the Aliens team is sending an Email for the 95% payment, without finishing the advance payment milestone of 9th floor & without interest payment against advance payment of Rs.15 lakhs. As I have already paid the amount up to 9th floor & then my next payment will be for the next milestone of 12th floor & the payment will be done by considering the above mentioned interest amount against advance payment & interest on initial payment against delay of 4 1/2 years.

Now I am requesting your kind self to look in to the matter & requested to arrange to resolve the below issues please.

1). Rs.446875/- Interest amount to be returned by Aliens against the advance payment of Rs.15 Lakhs for the delay period of 25months to finish the 9th floor by date:[protected] or amount shall be adjusted in my future due payments for the 12th floor Flat cost.

2). Amount is already paid up to the 9th floor construction & my next due will start after 9th floor construction (that is at the start of 12th floor) after considering the interest amounts.

3). Submission of 559 Flat handover Schedule as per Annexure –B for the planning

4). Flat handover delay by more than 4 1/2 years & it’s Interest on Bank house loan is an serious issue.

5). I am receiving some Emails for the 95% payment is not as per the agreed terms of advance payment & the paid amount up to the 9th floor & also not matching with the balance payment accepted by Aliens & the Aliens has conveyed me to cancel the Flat if the 95% payment is not done As I have waiting for the flat since last 3years & over & above on Aliens request I have made a Advance payment of Rs.15Lakhs & waiting for interest amount, but the Aliens is sending the mail for the cancellation of Flat.

Kindly look into the matter & requested to resolve the issue please.
.

Thanks & Regards

Veerendra Kumar