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What to do when builder is not returning money r
22-Jun-2023 (In Recovery Law)
Hello, I had invested in a project by Jaycee Homes in Kashimira called Bhagtani Riyo in March'13. Project was advertised to be ready by end of 2016 Allocation letter states that I should get paid 15% interest if the construction does not start in the first year. Three years down, I am being told that since the builder could not obtain land title, my money will be returned with interest but I will need to wait for another 15 months (so builder earns interest) which is a policy they did not add in the allocation letter. What legal action can be taken?
If your agreement is registered or written one there is option of filing complaint bro consumer forum. Issue a legal notice to builder claim damages with interest in the notice. If the builder does not respond back file a complain before consumer forum.
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Adv. Ujwal Phasate
Nagpur | 100+ Answers
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Now consumer laws have developed enough with penal consequences like imprisonment and monetary reliefs. You will definitely get reliefs if you file consumer complaint. You can claim refund of your amount and you can also send the developer in jail if fails to repay you. It is expeditious remedy.
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Adv. Sunil Kadam
Mumbai | 100+ Answers
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Aa per your query What to do when builder is not returning money? You have to approach before consumer forum as you are consumer and there is deficiency in service you may claim intrest over there and also claim to give possession early.
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