Recovery of money from builder for delayed possession

Dear Sir,I had booked a flat in May 2015 and given amount of 4 lacs thru cheques in the favour of the firm in 3 installments to builder. After some months i came to know that this project is already stayed by high court and land owner and developers have dispute of payments . At the time of booking builder hided this issue and provide general agreement on stamp paper. When i approached to builder then they told that this matter will close very soon and we will provide flat quickly to you still they always to show them selves innocent and say to wait some time in every visit. Their matter has resolved by court but their payment agreement is still continue and still builder is struggling for property paper from the Land owner. Now Builder also have RERA registration but still project is in vague. kindly suggest how i can take my money with interest and can i take action to builder for Cheating to book stay property? Now we are not getting response from the builder. Please help.

Answers (1)

336 votes

First and most important is the clauses agreed between parties require to be gone through.
Check Cancellation clauses and refund clauses.
Your agreement must have 9 % interest if the purchaser going to cancel the agreement
check the time period agreed for refund in case of cancellation.
If the principle and interest amount meeting your expectation raise a cancellation request with time limit to refund.
If builder agreed to refund with 9 % then your problem will solve.
If builder neglecting to refund send a legal notice with 7 day time to refund.
after expiry of 7 days you may take appropriate legal action.

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