Property size not as promised. What action can I take against builder?
I purchased a corner plot of around 270 sq.yards in 2009 from a reputed builder. In the agreement we have signed that if plot is not given within 2 years then the builder would pay interest @12% per year. If the plot would go + - 10% then on 10% the booking amount would be applicable.
After 4 years at the time of possession the plot size have gone down drastically by 160 sq yards and available area is only 110 sq yard which is of no use, since it is the corner plot. For making some building we have to leave 30% for green area as per law. The plot is east, south facing and square in shape.
Please advise what legal remedy do we have against the builder as we want our plot in its actual size. Also, the money he is refunding to us for the reduction in plot size is lower than the market circle rate. Please advise.
What does it mean that the plot sizes have gone drastically down?
The plot size will be as per the contract. If it has changed as per the Government regulations then you cannot have any remedy against the builder. However if the builder has been arbitrarily unilaterally re-writing the terms of the Contract by changing the plot size then that cannot be done by the builder and therefore it is a violation of the terms of the contract.
With respect to the refund - The refund depends upon the terms of the contract and if the term provides the rate at which the refund shall be given, then the market rate is immaterial. Thus, it is all dependent on the terms of the contract. And if the contract is silent then the market price can be taken into consideration while deciding the refund amount.
We can guide you better once we review the detailed Agreement that you had with the builder.
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