Any govt. regulation to protect interest in assured return property?
I had bought an assured return property 3 yrs ago. We were getting the return till December last year but after that haven't got the return. The builder says will give the assured return money for Jan & Feb in March.
We are concerned about the return that has not come in for 2 months but we are more worried about the property & assurance that we will get property in due time & the builder will not run away / cancel the project.
What are the remedies available? Is there a Govt. regulation to protect our interest?
Answers (1)
In case you do not receive the promised return amount, you can send a legal notice to the builder asking him to pay your return amount for past 3 months and if the same is not paid within time, you shall initiate legal action.
Now if the said payment is not made, you can register a criminal complaint against the Builder for the offence of Criminal Breach of trust under Section 406 and Cheating under Section 420 in the Police Station.
You can also initiate a civil suit for recovery of the amount against the Builder as he is liable for breach of contract. You can also claim interest on the said amount since the payment became due and compensation as well.
The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.
Popular Property Lawyers
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 Property 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 contact a Lawyer of your choice to address your query in detail.
Related Questions
- Builder asking receipts for every amount he refunds. is it ok to issue
- what is the procedure for notary registration
- Legal action against builder for charging abnormally high NOC fees
- Total Service tax & Vat information and government rate of property
- FAKE SIGNATURE OF REGISTRAR ON REGISTRY OF FLAT
- Non Refund of pre launch money by builder of commercial plot
"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
Related Articles
- how to get building completetion & occupancy certificate
- Can a Gift Deed be challenged in India? - Property Gift Deed Rules
- Sons and Daughters Rights in Father's Property
- Illegal Possession of Immovable Property/Land
- Joint Ownership of Property
- Family Property Dispute Legal Solution
- Transfer of Property to Legal Heir after Death
- How to Resolve Land Dispute
- How to sell property in pagdi system
- Grandson's Right in Grandfather's Property
- Hakka Sod Patra in Maharashtra
- How to get succession certificate
- Property Document Verification in Bangalore
- Ancestral Property Partition and Family Rights
- How to send property partition legal notice?