Illegal possession of property near Jangpura South Delhi

I had purchased a Residential Property for Investment purpose & had also taken Loan on the same. The Builder has not given Possession of the premises to me & another Third party is residing on the premises. Although it was discussed with Builder that I will be getting assured return @ 18% on my Investment / Rental of premises whichever is higher but nothing has been paid to me. On top of this I have to pay monthly EMI's on the Loan taken by me from NBFC. Now I don't have further Funds to pay the NBFC any further EMI's. Now only option left with me is to either File a Police complaint or to surrender the Flat to NBFC so that they can sell the Flat & close the Loan component. Please advice.

Answers (4)

216 votes

You can also file/ initiate recovery proceedings against the Builder on the basis of contract entered into between you and the builder.
Also, you can take action against the builder for handing over the flat to a third party.

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169 votes

You have options.. including going to company court, insolvency, civil remedies as well as under NI if PDCs were given apart from criminal complaints. You can get interim protection in regards the person currently in possession. However first start off with a legal notice and build your case.

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294 votes

If the builder has not given possession by the stipulated date you should file appropriate proceedings in court for refund or possession with compensation. As far as the loan is concerned pls share more details on it to advice better.

350 votes

Hello client hru.
As I read Ur query according to which you have invested in a property /residential property for which u have been promised to be given the assured returns as well or rent which ever will be buying this property u have also take a loan from nbfc also and due to which Ur still paying the EMIs to this regards u have not got the possession till now . In this regards you have written take the legal action immediately.

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