Dear Sir
I registered a flat by paying the initial 10% deposit of the cost of the flat with Jain Builders for a flat. For the subsequent dues, I had arranged to make the payments vide loan from SBI. Loan which was sanctioned was intimated to the Builder on time. Since it is the policy of the loan to disburse the amount upon UDS registration, the loan was awaiting disbursement. Even after one year of the initial deposit, the builder so far has not come forward to do the UDS registration. Since the sanctioned loan was not utilised even after 6 months since sanctioned, the loan got cancelled. Now the builder insists that I pay 18% interest on my dues unpaid.
Can I take this up with Consumer forum? Do I have a chance to claim for my initial money deposited with interest? (builder refuses to pay interest) Kindly advise
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