Non refundable investment by builder on project

I am a retired, salaried Army officer. All my dealings are in white. My wife invested in a 3 BHK, 1931 sq ft flat: Booking: Rs. 5,00,000/- on 29 Feb 2012; down payment: Rs 31,36,202/- on 01 Sep 2012. Receipt is held with me. Learnt in April 2013 that project has been shelved. Confirmed orally in May 2013. Since May 2013 efforts to get refund of investment have been in vain. In Dec 2013, it has been stated orally that it will bring up the project. I am convinced that they're lying.

I want refund of my investment at the earliest.

Answers (1)

120 votes
When the project itself has been shelved the builder is obligated under the law to refund to the prospective buyers the advance amount paid. You should sue the builder in the civil court to recover the amount paid after issuing through your lawyer a legal notice to the builder. The builder cannot escape his liability to refund the amount together along with damages. You may also file a criminal case for breach of trust and cheating against the builder in addition to filing a case for recovery.
Do set the legal process in motion soon as the time limit for filing a case for money recovery has already started ticking.

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