- (1.) Challenge in the present writ petition is to the communication dated 21.6.2007 (Annexure P-15) passed in terms of the directions of this Court considering the claim of the petitioner in respect of levy of interest on account of nonpayment of installments of the plot allotted to the petitioner vide the allotment letter dated 25.1.2002 (Annexure P-1).
(2.) The sole grievance of the petitioner is that the possession will be deemed to be delivered on 9.2.2005 when the building plans were sanctioned and therefore, in terms of the condition of letter of allotment, the first installment would be payable on 9.3.2006. In the alternative, it is contended that even, if the stand of respondent is accepted in respect of handing over of the possession on 9.4.2003, interest will be payable w.e.f. 9.5.2004 on the amount of due installments, whereas, the interest has been calculated on the total due amount.
(3.) Brief facts are that the petitioner was initially allotted land measuring 14548.177 sq. yards on deposit of 25% of the total sale consideration. The Petitioner had the option to pay the balance 75% within 30 days or in three annual installments along with interest @ 10%. The relevant Clause in respect of payment of remaining installments reads as under: - "(2) The allotment/sale shall be deemed to have commenced from the date of possession. In case it is intended to pay the sale price in installments, the balance 75% of the price together with interest thereon @ 10% per annum shall be payable in three equated installments. The first installment being due after the expiry of one year from the date of possession shall be payable by the 10 th of the following month in which it falls due. In case the installment of sale price is not paid on due date, interest as per provision of the Chandigarh (Sale of Sites and Building) Rules 1960 or at such other rate, as may be fixed by the Chandigarh Administration from time to time, shall be payable by the society from the due date to the date of actual payment. However, no interest shall be payable if the said 75% balance of the sale price is paid in full within 30 days of the date of allotment. In the former case, the following shall be the schedule of payment of installments of the sale price. JUDGEMENT_333_LAWS(P&H)1_2012(1).html;