Possession time & compensation for delay interpretation of clause
Clause reads as under: Seller endeavors to give possession of the apartment in 36 months from the date of execution of the agreement and after providing the necessary infrastructure but subject to force majeure conditions or any Govt. /Regulatory authority's action,inaction or omission & reasons beyond the control of the seller. However the company shall be entitled for compensation free grace period of 6 mths. in case the construction is not completed with in the time mentioned above. If the seller fails to complete the construction of said building / apartment with in 36 mths plus aforsaid grace period of 6 mths from the date of execution of date of this agreement and after providing of necessary infrastructure in the sector by the Govt. or for any reason other than the reason stated above, than the seller be liable to pay to the purchaser compensation @ of Rs 7/= per sq ft of the super area per month for the entire period of such delay which is proportion to rental income for the similiar property in the area or average rental of equivalent size apartment in the vicinity offered, which ever is higher.
I am citing my case where in the builder is offering possession after 50 months from the date of agreement & is ready to pay compensation for eight months (50-42). While my interpretation of the above described clause is " since he could not complete in 42 months he has to pay compensation for the entire period of delay that is 14 mths. ( 50-36). What do you say am I right ?