Builder has added extra interest amount, which he never communicated earlier.
I bought a flat in Lucknow in 2016 by taking a bank loan on percentage completion method for payment. The builder kept on sending us the payment demands as per the construction happening in last 4 years. The bank used to disburse amount to builder as and when the demand came for it. All of a sudden to my shock i saw that the builder had sent me big interest amount, stating delay in demand payments for last 3 years. The shocking thing is that the Builder or their team never communicated to me about any such delay before. Now he is quoting 16 percentage written in our contractual agreement to put this extra late payment interest amount for last 3 years. No delay was communicated earlier. All of a sudden big interest amount for 3 years has been bombarded on us, now at time of final payment & registry.