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BPTP asking Interest

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Community forum for members, residents and investors of BPTP Parklands Plots and Villas Faridabad. Spread across sectors 75, 76,77, 80, 81, 82, 83, 84, 85, 86, 88 and 89 (Faridabad)

BPTP asking Interest

Postby freemind76 » Sat May 05, 2012 8:30 pm

Hi,

I need an advice. BPTP has sent me a letter asking for a huge interest (70K) for some of the installments paid delayed. The delay was of 3 months, 1 months, 15 days and 12 days. They are asking for the interest calculated for last 4 years compounded. Some of the delays were due to BPTP was not able to provide the required docs on time for loan.

I am puzzled by the letter as I don't know what to do with these crooks. I booked the plot in Jan 2006 and have not got any possession or any hope so. Everytime, I ask about possession date, I get the standard answer that we are working on it and we'll contact you in due course of time. God knows...

I don't know if I could do anything against them as they have not offered the possession as of now. I don't remember if there is any penality clause.

Guys, please suggest what options do I have now? I have paid 95% of money, EDC/IDC, PLC and enhanced EDC.

Guide me, plz
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Re: BPTP asking Interest

Postby shilpi21 » Mon May 07, 2012 10:59 am

We at BPTP THE RESORT have a different problem to face.
BPTP has revised (downwards) the interest calculated on Enhanced EDC and their original EDC also appears OK.
But we have serious issue with IDC amount .
In their Red Herring Prospectus they have stated IDC amount Rs 13 million for gross area (i.e. 10.63 acres) which comes out to be Rs 12.23 Lac / acre.And thre status as on Dec 2,2009 is PAID , hence no interest to be charged.
But in there demand for EDC they have asked IDC as 25 Lac/acre and calculated interest also on IDC.
Even after several communications they are keeping mum over this IDC issue.

DR NAVNEET BHATNAGAR
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