Demand letter

A demand letter asks the buyer to pay a specific instalment by a due date. In a construction-linked plan, it is raised when a stage is completed. Banks use it to release loan tranches.

• Buyer names, unit and project, with RERA registration number
• Stage reached and percentage due
• Amount, GST and total payable
• Due date and interest on late payment
• Designated bank account details and payment reference
• Amounts received so far and outstanding balance

The most common failure is delay. Demands are raised weeks after a stage is reached because someone has to prepare hundreds of letters by hand. LeadOne AI raises demand letters for the units at a stage together, from the same buyer ledger.