How to get my money back in a buy-back scheme if developer is denying
20-Apr-2023 (In Recovery Law)
Hi , I have invested in the property where the developer & myself have executed BUY-Back agreement on 100 INR Stamp paper. After the agreement period now developer is not repaying the invested money + ROI on the investment . I have been following more than 6 month with developer but there is no response on my invested money reimbursement . The property is also not registered in RERA. How shall i have to go with the developer to recovery my money plus interest as per agreement . Please advice Regards
There are two ways you can proceed for relief. One - You can to file a civil suit against the builder for breach of contract. Second- you can file a summary suit for recovery of money . You can prefer Second option as it may provide you relief withing a shorter duration.
One of the options available would be Civil Recovery in Civil Court
Civil Recovery may prove to be slow depending upon the jurisdiction it falls within. Court fees would be payable (proportionate to the money prayed for), thus on the side, please check for pending suits against the same builder in Consumer and Company Courts. Get your self impleaded in similar suits.
Civil Recovery may prove to be slow depending upon the jurisdiction it falls within. Court fees would be payable (proportionate to the money prayed for), thus on the side, please check for pending suits against the same builder in Consumer and Company Courts. Get your self impleaded in similar suits.
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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