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Construction stopped and no pre EMI payment from developer since long


27-Mar-2023 (In Property Law)
Hi, I wish to inform you that the project Ramrajya was launched with many state of the art amenities & Zero EMI until Possession and with guaranteed possession starting from April 2022. These all attracted many people and subsequently, we (*more than 2500 members*) registered for flats in the Ramrajya Project as per allotment details declared/issued in many newspapers, etc. (Copy attached for ready reference). Accordingly, construction work of buildings started in Aug.’2018. We all owners made payment from time to time as per demand raised by the builder and till March 2019, maximum owners have already made payment of about 45% of cost of the allotted flat. Construction work was going on in full swing till March’2019; however, since then till now no progress for construction of buildings have taken place at the project site. As per the commitment, there has to be Zero-EMI till possession. In this regard, a tri-party agreement was prepared, valid for 24 months saying that initiall
Answers (2)

Answer #1
648 votes
You will have to form a federation of all house members and approach the High Court and invoke Arbitration to hold the developer accountable. Either you can take over the development or take a refund of the monies paid. Most likely the court will ask the developer to deposit the money in court.
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Answer #2
665 votes
Whatever your concerns are kindly get resolved on Phone Call. Your questions are too many & that too, you have not made it clear : What exact questions you wanted to ask? Thus, I'll be answering all your questions on call.
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