Location/place: Hyderabad
Name of company/service: Ramky Estates & Farms
I bought a house in Ramky Towers, Gachibowli and they have promised to deliver by Aug 2010. They mentioned to pay Rs 20,000 / month as penalty and they delivered in Mar 2012. When we asked to pay penalty they are saying that you did not pay as per payment schedule. When I went back and checked, all my payments were delayed by few days (5-10 days) due to bank releasing funds after checking the construction status. In the agreement, they never mentioned that if there is any delay in payment, penalty will be void. In fact, they mentioned that 18% interest rate would be charged, I am ready to pay that but they are not ready to discuss. I am surprised that such big builders are trying to cheat like this.
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