Refund after cancellation of Flat

In Consumer Court Law
Hi . I have recently cancelled my flat which was booked in 2015 . Based on the progress from last 1 year , builder managed to complete only 1 floor out of 26 . Plus based on his flase commitments and intentions.I decided to go for cancellation . Total Amount paid to builder is 5 lakhs on booking plus 16 Lakhs disbursed from bank. As per builder buyer agreement , if I cancel the flat that 10% of total cost of flat will be deducted and rest of the amount will be refunded in installment. I have been following up with my builder from more than a month for refund . I have received a email stating amount will be refunded in 5 - 6 months which I can not accept at all. I need your advise for below points . 1) I had taken a subvention scheme based on which builder was liable to pay EMI to bank till I get the possession. Since I have cancelled my flat , builder has stopped paying EMI . should I pay emi to bank till the time builder refund me 2) except consumer court what could a legal option

Answers (3)

100 votes

Did you make payment by cash or cheque?

You can issue a legal notice to the builder for refunding of your booking amount. If there is no response, you file a case in consumer forum against the builder.

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166 votes

I believe that the Agreement must be having an Arbitration Clause and therefore you can initiate Arbitration. that is the most efficient way to get you grievance redressed as now a days consumer forums are loaded with work and lot of time would be consumed.

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199 votes

Give the legal notice to bank and builder then you file case in consumer court against builder otherwise bank file a recovery case against you so firstly u file case against builder in present time we are Handel 5 cases of consumer in 5 case 2 cases are bank file a recovery case against buyer so you vastly file case against builder

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