Saturday, November 23, 2013

Delayed possession, but who pays?

This is that pompous advertisement that was released by Omaxe on May 11, 2012 offering possession of its Greater Noida Flats. 

The possession has still not been given but that has not stopped the company from levying heavy penalties upon its customers for "delayed payments." These illegal payments are levied as fines that are fixed at interest rates that are as exorbitant as 24 per cent per annum. 

Just imagine who pays an interest of 24 per cent per annum these days? The common man.