Eldeco Infrastructure and Properties Ltd. — EDC Charges and High Interest on Payment

4 Reviews
 tarunk163 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.

Please suggest
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.

Complaint comments  3 Comments     Updated: Share0Tweet0Share0


The same is happening to me,
I bought a apartment in eldeco olympia and the project is delayed by almost a year, still tehy are charging me for delayed payment, when they knew before hand that there will be loan proceedings.
Please reply to this, its a very important question. I am paying extra by living in a remted apartment and that is a huge amount, its unethical for a company to charge me for delayed payment when they delayed poccession by 100 time more days.
Hi Tarunk, at the outset please accept our apologies for any inconvenience caused to you. To help us assist you, would request you to kindly share with us your contact details and property details. It is always our sincere endeavour to ensure complete satisfaction of our customers. Thank you.
I would suggest you that the builder is not entitled for the interest on delayed payment of installments by the allottee. You should go to consumer court and the courts now these days are very fast and giving reliefs to the consumers of Delayed in possession. In one recent case state commission chandigarh awarded a aompensation of Rs.2 lakhs for delay in possession alongwith directions for possession of flat.

For free legal advise you may contact at [protected]

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    Eldeco Infrastructure and Properties Ltd. - EDC Charges and High Interest on Payment

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