We had booked a flat in Nov 2012. We have signed the Agreement and were allotted a Flat. Thereafter we paid the Installments regularly upto 55 lakhs till March 2015.After that we received intimation for 2 more Installments which were not paid as we were not satisfied with the development. We didnt receive any demand letter after that. We inquired the status of our Flat in Sep 2016 and were sent the pending balance. Again when we asked about the status of our Flat in June 2017 we were told that our flat is cancelled w.e.f 31-3-2016 and we need to clear off the interest before making the pending payment to revive the unit Since our unit is cancelled, we do not wish to go ahead with the deal and claim our Refund. Regards Aditi
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Lawyers are available now to answer your questions.
What is the amount that we can claim and what deductions will be made?
Exact amount and details can be told to you after seeing the builder buyer agreement, but as of now I can tell you that you have all the rights to claim the amount that you have given.
And if they fail to give you then you can file a case in the consumer forum with regards to the same.
Regards
Delay in delivery of possession in a building is one of the most commonly faced and frustrating problems for a property buyer. Avoid verbal communication. Buyers should always send a legal notice before approaching any forum or court with their grievance. They should have taken objection with the builder against violations or illegal demands by sending a letter so that evidence can be created in their favour to be produced at the time of proceedings.
Delay for paying two months installment is not a valid ground for unilateral cancellation. Conditions in Buyer seller agreement has big role to handling such issues. If the builder delays the completion of the construction beyond the stipulated time, you are entitled as a property buyer to seek a refund from the builder. Demand compensation from builders for construction delays. So thoroughly go through the stipulated condition in the builder buyer agreement.
it is necessary to peruse agreement signed by you with builder
2)if builder has to cancel agreement he has to issue you notice of cancellation give you time to make payment then only cancel the agreement
3) issue legal notice to builder to refund Rs 55 lakhs paid by you with interest as agreement has been unilaterally cancelled
4) if builder fails to refund file complaint before consumer forum seek refund with interest also claim litigation costs , compensation for mental torture undergone by you
builder cannot unilaterally cancel the booking
seek refund of Rs 55 lakhs with interest
The booking amount was paid by us in Nov 2012 and 30% payment was made within 2 months of booking and by the time Agreement was signed we had paid 40% payment. The Basic Sale price is 91lacs. The Agreement was signed in Sep 2013 and after that the construction time is 4 years and 9 months. We paid another 9 lacs by 31-3-2015 amounting to a total payment of Rs. 55.6 lacs. After that we received Installment demand on mail which we did not pay as those demands were in quick succession and we were not in a position to pay. Secondly, the construction at the site wasnt satisfactory. we didnt receive any further demand from them and only received communications about the progress/ stoppage of work etc. On our enquiry in June 2017 on the status of our Flat, we were informed that our Flat is cancelled There is a huge penalty (rs. 17 Lacs) which we need to clear off in addition to the balance installments.(Rs. 40 lacs) We wish not to proceed as our talks to reach a conclusion has failed. We have lost trust on the builder and we wish to seek our Refund. As per the AGreememt they will forfeit our EMD (15% of 55.6 lacs), interest on unpaid installments (17.5 lacs) and brokerage charges and will refund the Amount without interest on sale of that Flat to another buyer. Please advise
Agreement is one sided , arbitrary and loaded in favour of the builder
2) once builder is seeking to forfeit 15 per cent of Rs 55 lakhs paid by you as cancellation charges the question of payment of unpaid interest of Rs 17 lakhs , does not arise
3) contact a local lawyer and file complaint before consumer forum as advised
Now the builder is even refusing to pay the amount which he is liable to pay as per the agreed terms and conditions
Again when we asked about the status of our Flat in June 2017 we were told that our flat is cancelled w.e.f 31-3-2016 and we need to clear off the interest before making the pending payment to revive the unit
Since our unit is cancelled, we do not wish to go ahead with the deal and claim our Refund.
If your flat booking is canceled and you do not want to go further in this, then you demand the refund of the booking amount with market rate interest from the date of collecting the money from you.
If there is no proper response from the builder you may send a legal demand notice through a lawyer and then you my vie the option for recovery through consumer forum or civil court.
What is the amount that we can claim and what deductions will be made?
You can claim full booking amount with interest, let him come out with his decision to deduct certain amount as per the terms of the sale agreement.
You can challenge the same properly.
We wish not to proceed as our talks to reach a conclusion has failed. We have lost trust on the builder and we wish to seek our Refund.
As per the AGreememt they will forfeit our EMD (15% of 55.6 lacs), interest on unpaid installments (17.5 lacs) and brokerage charges and will refund the Amount without interest on sale of that Flat to another buyer.
If the refund is not as per the terms already agreed, then you may take up the matter legally for recovery of full amount
You must make sure that the conditions signed between you and the builder confirms your proposed refund