Builder not providing fixed time to refund my amount for cancelling

857 votes

Dear owner, from the matter above it is clear that you have purchased a plot(property) from the builder and u have a separate loan account that you want to close . As you are in need of money for loan closure from the resale of the plot of the builder but the builder is not specifying the time duration of the sale. The action that you can initiate for such cases , matter can be put in front of the consumer forum under grievances of the sale/purchase of the property along with the agreement of the builder.

LawRato LawRato

549 votes

There is much that can be done. In case of default in the possession of the property in question within the time stipulated, the builder can be asked to refund the money with interest (in case of delay in possession). This can be achieved by approaching the concerned consumer forum depending upon the cost price of the plot. However much depends on the detailed facts and circumstances of the contract and case concerned.

Advocate Bhaskar Subramanian LawRato

584 votes

Hi
Dear,

You should be sent a legal notice to builder. If builders is not paid your deposit money than you can go to consumer Court . Court can give you your deposit money with interest. you should be read builders and buyers agreement deeply.

Advocate Sanjeev Goyal LawRato