Pre EMI aggrement

POSTED BY Leo Frederick ON May 28, 2012 2:53 pm ONE COMMENT

Recently we purchased a Flat with Pre EMI Waiver option, Poesseion of the appartment is in August 2012 so with grace period of 3 months builder signed aggrement saying Pre Emi will be taken care by the builder till Nov 2012. Along with this Builder oraly confirmed saying that if the project got delayed due to unavoidable reason Pre EMI will be extended till possesion. Currently the project is getting delayed than expected and builder not willing to extended the Pre EMI coverage till handover.
As I dont have any written communication on extending the Pre EMI waiver option beyond Nov 2012, is there any place where we can take up the issue and make builder to pay for it if he is not?

One reply on this article “Pre EMI aggrement”

  1. Dear Leo, the real world is harsh. In fact cruel. There is no place for such oral commitments. All you can do is to request your builder to honor his oral commitment.

    By the way, please try to find out the reason of delay & possible possession time & check, can you service your loan liabilities from Dec 2012 on wards from your own reasources.



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