Eldeco Infrastructure and Properties Ltd. — EDC Charges and High Interest on Payment
Tatarunk163 on Jul 11, 2011
I bought a plot of 360 sq. yards in Eldeco County, Sonipat from Eldeco in 2008 and payed EDC charges of Rs. 360000/- in next one month as demanded by builder. The project got delayed by 1 year and I also delayed my last two installments. Now builder has sent a final demand notice with increased EDC/IDC charges and huge interest ( 18%) on delayed payments.
1) do I need to pay increased EDC/IDC charges if I have already paid the demanded amount in 2008?
2) do I need to pay interest on delayed payment if project was delayed by builder?
Please reply ASAP as I need to pay these charges to builder by next week.
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