I am Dinesh. I have booked a flat in VGN PLATINA (plot no II, Flat no S1) on nov and the developer has agreed to complete the entire construction of flat by 31.07.2012 with an additional grace period of 6 months. But on dec we again received a mail from VGN DEVELOPERS stating that they can handover the project only on APRIL. pointing out the reason as LOAD SHEDDING which is not at all acceptable. Load shedding at Chennai is only for 2 hrs. and this will not affect the construction adversely.
See the plight of us, one side zooming rent year by year and on the other side EMI for the bank borrowed loan. it is very difficult for me to pay the rent and to pay my EMI. until VGN gives me the position. VGN till now is not clear as when it will handover the procession and it gives a tentative date by 30th April.
Further it is unethical on the part of VGN to compensate @18% per annum on the value of remaining construction cost when my EMI with bank is already started and the bank is started debiting the interest component for the paid amount every month. I want VGN has to acceptthe bank interest for the amount received till now as VGN has not honored their commitment even after 6 months grace time.
I request VGN to expedite the project by Feb end else agree to
compensate the EMI interest part.
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