quesRefund after cancellation of Flat

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

  • ansGive 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

    Advocate Sanjeev Goyal

      District Court, GautamBudh Nagar, Noida

  • ansI 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.

    Advocate Rohit Kumar Singh

      Sector 40, Noida

  • ansDid 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.

    Advocate Siddhant Sharma

      Greater Kailash-1, Delhi

  • Send a legal notice for faulty product or service @ Rs. 1499/- only

    Know More
  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Consumer Court Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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