VIJAYAWADA: Home buyers in the Happy Nest project issued legal notices to the Capital Region Development Authority, demanding 14% interest on the capital they invested, after the latter failed to complete the project within the prescribed time limit. They have also demanded in the notice payment of 20 lakh towards ‘mental agony’ according to the Real Estate Regulation Act.
According to the agreement entered with the CRDA, buyers have to pay 10 per cent of the total cost of the flat while the remaining has to be paid in tranches as construction progresses.
