Unjust Interest Charges Due to Builder’s Delay in Loan Process

Dear Sir, I am writing to express my concern regarding an interest charge levied on my account for a delayed payment. I recently booked a flat in Shri Radha Sky Garden, Noida Extension, in April. Within 15 days of booking, I paid more than 20% of the total amount. I applied for a loan to cover the remaining 70%, which was due within 45 days of booking. Unfortunately, the loan approval was delayed for four months due to pending documentation from the builder's side. Despite this, I never received any payment requests during this period. I consistently followed up with my sales representative, urging him to expedite the loan process. Finally, in August, the loan was approved. Immediately afterward, I started receiving numerous calls from the builder, pressuring me to make the payment. The bank requested that I transfer my self-funding portion so they could release the loan amount to the builder. Due to technical issues with my internet banking, it took me 5 to 7 days to complete the transfer. During this time, I received an email from the builder, detailing an outstanding amount that included a 12% interest charge for delayed payment. I promptly contacted the Sky Garden team, requesting the removal of the interest, given that the delay was caused by the builder’s own documentation issues. However, they insisted that I must pay the interest, claiming the delay was on my part. I seek your guidance on whether it is legitimate for the builder to charge 12% interest in this situation. Additionally, I would appreciate any advice on actions I can take to avoid paying this unfair charge. The constant calls and pressure from different representatives have caused significant distress to me and my family. Furthermore, I was disrespected by one sales representative, Navin, who suggested that as an educated person, I should know how to pay using a cheque. Are there any rules or regulations that protect customers in such situations? Any assistance or advice you can provide would be greatly appreciated. Thank you for your attention to this matter. Sincerely, Manoj