[Resolved]  Supertech Limited — Excessive Delayed and Late Payment charges

Dear Sir, I have purchased a house House No 1401 Tower Nicholas1 in Czar Suites Greater Noida. I have made 20% payment and remaining Builder promised to get my loan sanctioned. Due to some external issues (Noida Extension Issue) Loan disbursement was delayed for 2-3 Months. Now builder is asking me to pay the Interest @2% per month for the delayed amount at the time of possession. Also In allotment letter Date of possession mentioned as Dec 2011 but property still not completed, which he agrees to pay Rs 5 Per square feet as compensation. I just want to know if Builder is charging 2% per month for delayed payment why he will give me just Rs 5 PSF compensation. Bank is charging me Rs16000 Interest per month for my loan amount which I paid to builder but why Builder is only entitled to pay 870*5 = Rs 4350 per month. Delayed possession cause me heavy financial losses, still builder is asking for delayed payment that too I am not responsible for delayed loan disbursement. As per decision of Hon Supreme Court of India in case of Sri J L Sethi Vs Senior Citizen Home Complex this decision o[censored]pheld that Builder has to pay the same rate of interest for the delayed amount which he is charging for the delayed payment http://ncdrc.nic.in/RP312905.htm