Hi, I bought 2nd apartment in subvention plan 2 years back in 2014 where i paid a lumpsum amount to builder and was offered no emi till possession. Builder confirmed that if subvention from bank (for 2 yrs) is not renewed, he will reimburse by interest till possession. Now builder told he is not in position to pay EMI and is requesting me to pay part emi till possession i can't pay both emi and rent simultaneously. how can i get out of this problems and in what time. Can i hold my emi to my bank raising concern in a legal way ? Can i cancel my unit on this ground kapil taneja
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1)i presume you have in writing from builder that he would pay EMI till possession
2) if builder is not in position to pay EMI till possession you cna cancel your booking and seek refund of money paid by you til date
3)you cannot hold your EMi to bank . if you do so bank will auction the flat to recover its dues
Thanks. By any chance, while our legal battle is on, and builder offers possession, will our case still hold value ?
if you have cancelled booking the only issue is of refund
2) the question of possession does not arise
3) you can reject his offer of possession
Yes, but my BBA says all booking amount will not be refunded in case i ask for cancellation. but since i am cancelling because of he not honouring his commitments, i can fight for full refund in court
you can seek full refund as builder has committed breach of contract failed to pay EMI till possession
1. You can send him a letter informing him that you hereby cancel the agreement for his not complying with the terms of the agreement and thereby asking him to refund you the money you have paid so far with interest.
2. If he refuses to refund you the said amount, you can file a complaint case against him alleging deficiency in service and unfair business practice, seeking refund of the entire amount paid by you so far with in a specific time period with interest, damage and cost.
3. if he does not pay within the said time period, seek attachment of his properties for selling and recivery of your claim and also seek arrest warrant to be issued against him..
1. It depends on at what stage your case will hang at that time,
2. if order against him has been passed, there stands no question of taking possession of the property since you have already cancelled the agreement and sought refund of the money you have paid to buy bthe property.