Delayed in delivery of flat due diversion of funds to speculative
Delayed in delivery of flat due diversion of funds to speculative
I wish to bring to your notice that as per agreement made on 23rd of January 2010 at Hyderabad the total cost of the flat no E-011 in Lake Front Project is Rs.7,16,310/- plus the amenities’ / modifications.
From the ANNEXURE I it is clearly established that I have paid almost three times the cost.
As per agreement the said project is to be completed in all respects and handed over in 18/20 months with all due certificates such as Occupancy Certificate from Municipal Authorities .
All of monies have been paid as per your demand/threats, and on time which always included the clause to impose penalties of 15% on the amounts.
There is a considerable delay in handing over the said property i.e. 48 months to be precise where the amounts paid have been diverted for speculative purpose there by creating many ventures in Andhra Pradesh and Karnataka and developing a swanky more than international quality office hence creating abnormal loss to me in terms of rent receivable/paid.
I wish to bring to your kind notice that you have collected Flat Registration amount in excess of originally
mentioned amount of Rs.40875/-. Though you have collected Rs.40875/- from the bank, you have again
collected Rs.71000/- from me vide ICICI cheque No. 485564 dated 18/03/2013
I have visited the site/flat where the main door and frame is of inferior quality (cheap plywood with
plastic layer on top for the main door and frame) not Teak wood as promised in your broucher and
agreement. All of the other doors and frames are of substandard quality. All the costly Single Lever
Concealed Diverter plumbing are unserviceable (which is completely covered with concrete) as the
concerned plumber is not qualified/experienced to do so. (I am using the same since 1994 which is easily serviceable where the tile can be removed easily which is fixed with bolts). The scaffolding is still there in the ‘E’ Block on enquiry I was told some residual works are still in progress thereby the block is not qualified for occupancy yet you say I may occupy at my own risk.
In the light of above facts I insist on refund of excess amounts collected to the tune of Rs.1.00,000/- and pay me an additional amount of 15% on the total amount for the delayed period. (approx. Rs.583486.50) totaling Rs.683486.50)
From
C Manasa (Lake Front E11)
4-180/182 Sri Sai Baba Officers
Colony
Sainikpuri Secunderabad
500094
To,
K Ravinder Reddy (MD)
Janapriya Projects
D No 8-2-120/86 & 8-2-120/86/1,
Keerthi Towers, Opp RBS,
Above Allen Solly show room,
Road No 2 Banjara Hills,
Hyderabad 500034
SL NO DATE AMOUNT CHEQUE NO PARTICULARS
1 22-11-2009 Rs.50,000.00 485555 INITIAL PAYMENT
2 13-12-2009 Rs.2,51,455.00 485556 CONFIRMATION PAYMENT
3 27-02-2010 Rs.7,500.00 2550259 FOR FRANKING AND REGISTRATION
4 06-03-2010 Rs.8,40,000.00 394285 FIRST INSTALMENT BY BANK
INCLUDING REGISTRATION AMIOUNT
5 30-04-2011 Rs.1,91,430.00 DD106542 SECOND INSTALMENT BY BANK
6 18-03-2013 Rs.71,000.00 485564 ADDITIONAL AMOUNT FOR
REGISTRATION
7 18-03-2013 Rs.1,50,000.00 485565 FINALL PAYMENT MADE ALL
AMENETIES INCLUSIVE
8 18-03-2013 Rs.15,000.00 KUTCHA RCPT ADD CASH TAKEN FOR
REGISTRATION
9 09-05-2013 Rs.3,68,570.00 DD FINAL PAYMENT MADE BY BANK AFTER
REGISTRATION
TOTAL Rs.19,44,955.00
Asked 8 years ago in Property Law
Religion: Hindu