How to cancel agreement with builder
04-Nov-2023 (In Property Law)
I have agreement with a Building Contractor. He has mentioned payment terms in Agreement and we started paying for that. (Its in Percentage. We have installments like x% on Stage A, y% on B, z% on C & so on) Now,as 30 to 40% of work is done, he is saying that the total approximate value has increased and he want us to pay lot more. Throughout the work, he has not completed even single stage. Did some work of first stage, then leaving some of it inbetween, started next stage, then takes money of third stage and didn't completed second stage. We have reminded him time and again to complete the stages, But he didn't. Now he has taken lot of money extra from us, but is not coming back to work and asking for more. Quality of his work is really poor and speed is very slow, So i want to look for another Contractor. 1. Contract is on Rs. 50 Affidavit, where as cost of construction is nearly 45 lakh. Is it valid? 2.What should be my next step to Cancel with him and start with somebody else?
The contract with the builder is governed by the terms and conditions of the agreement. Agreement is always valid even though it's executed on less stamp because the same can be compounded by the court and is validated by paying compound fee. If the contract has committed any breach of the agreement then you can cancel the agreement and also claim damages and loss suffered by you under contract act
Can I cancel a builder?
Builders or contractors may be charged with a criminal offense and fined. The homeowner can cancel the contract up to one year after it was signed, and within 14 days of that date.
How do I cancel my home agreement?
The buyer does not pay.
Only if the buyer is satisfied with the property title will he make a balance payment.
The buyer can cancel the contract and claim damages by sending a legal notice from the seller.
If the buyer fails to obtain a mortgage, he can cancel the contract.
How do I get my money back from builder?
If the builder does not refund the money, send an email to let them know that youll be contacting the consumer court. It is better to go to consumer court if the builder does not take action.
How do you cancel a construction agreement?
1. You must give notice of cancellation to the seller or buyer. 2. He should explain why this construction is not yet underway.
If you have not agreed with the builder to deduct any money from your booking, then you can cancel the booking. RERA regulations allow the buyer to cancel the contract even if they dont want it.
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
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