I have paid advance for a flat at aliens space station, tellapur in hyderabad last year march 2017. On the date of deal discussion, the sales team agreed to give flat in july/aug 2018 but after i paid advance and asked them to send email about delivery date, they sent as nov 2018. The sale agreement is not given to me for last one year and asked me to sign sale agreement this week. I have gone through agreement terms and conditions-i am not satisfied with few things-delivery date is mentioned as december 2019 which is really against my capacity and they ask me to start bank loan without written confirmation on my flat delivery date. They state that if delivery is delayed, they pay us rs. 3 per sqft and my flat is about 1254 sqft. We have discussed all our financial strength before buying and i can’t bear to pay emi and rent at same time-i an residing in rented house which i want to avoid and use amount to but new flat on emi. If i delay any payment, i have to pay 9% interest but if flat is delayed, why they compensate only rs.3 per sqft which is just rs.3700 per month – i would pay bank at interest if rs 20000 per month but builder pays not even half of that? I have not yet signed the agreement yet-can there be any favour towards me or should i cancel the deal. If i cancel the deal i night loose almost 1.5 lakh
Regards
Bhavanarayana
Hyderabad