I have booked a home through a reputed builder in Gurgaon the possession for which is due in next 4 years. While booking the apartment, I sent them a mail stating that I will pay the amount using my own resources in three instalments as my company agreed on a interest free loan. However after the 1st instalment which I sourced from my own savings, my employer refused to fund me and now I want to take a home loan two fulfil my next instalment commitment. The bank requires the Builder buyer agreement which the builder is refusing to provide saying that we opened the tower only for you and we can not give you the builder buyer agreement. Now if I do not take home loan I would default on my 2nd payment and as per the booking form conditions builder will first charge the heavy interest on late payment and if I do not pay till 120 days builder has the right to cancel the allotment. I would like to know if I can file a case in consumer court as the builder is not providing me the builder buyer agreement and how strong is my case. I received the allotment letter. Thanks in advance.
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Just to make my question more clear. Builder divided the whole amount into three parts on my request. I have paid 30% of the total amount till now. And have to pay next installment of around 25% in next few days for which my company promised to pay and then backtracked. The third and last installment is due after more than 3 years. I have to take a home loan now for the instalment which is due in next few days but builder is saying they can not give builder buyer agreement atleast in next 5-6 months due to reason best known to them. Without BBA I will not be able to avail home loan and hence the issue. Please advise. Thanks & Regards
you cna file complaint against the builder for deficency in service
2) you have already paid 33%of cost of flat
3) builder is bound to execute agreement for sale or builder buyer agreement
3) if builder refuses to do so file complaint against builder before consumker forum to direct builder to execute builder buyer agreement
4) in the alterntaive refund your money with interest
you have strong case on merits
2) if builder says it cannot execute builder buyer agreement for 6 months then it should not demand any loan installment for 6 months
3) oncer having accepted 30 per cent of sale consideration it cannot refuse to execute builder buyer agreeement
I would like to know if I can file a case in consumer court as the builder is not providing me the builder buyer agreement and how strong is my case.
The builder's refusal to execute a builder buyer agreement, the matter may be taken up with the bank or the concerned authorities and place a request to sanction the loan without this requirement.
Alternately you may inform the builder to cancel the booking for this reason itself.
If he fails to do so or refuses to return your money you may drag him to the consumer forum seeking relief and remedy for this
I have to take a home loan now for the instalment which is due in next few days but builder is saying they can not give builder buyer agreement atleast in next 5-6 months due to reason best known to them. Without BBA I will not be able to avail home loan and hence the issue.
If the builder is very adamant on this then you may cancel this booking and claim refund by following procedures properly as suggested.