Builder has failed to deliver possession of apartment
I had booked a flat on 2nd October 2017. While booking the flat we had noticed certain issues with the flat and informed the in charge person. He told us that, the building is under construction, only 90% of the work is completed and other work will be completed at the earliest. Before handling over /registrations all the issues will be rectified.
My home loan was sanctioned on 6th December 2017. I had informed them, that we were ready for immediate registrations since we wanted to shift immediately. December end when I contacted them and asked for the status, they told me to send an email, which was sent on 1st January 2018. On 5th January 2018, i received an email promising to complete the work at the earliest. On 12th February 2018, i visited the flat no work was done has assured. On 27th February 2018, I call the head office and informed them about the issues, they told they will get back to me. But till today nobody has provided any information. I am already paying monthly EMI from January 2018 till date.
Since the builder has failed to deliver the possession of apartment.
1.The agreement does not specific deliver of possession of apartment date.
2.What would be the maximum time I can give the builder to hand over possession?
3.Can I cancel the flat and ask for refund the booking and loan amount.
4.Ask the company has to bear the other monetary losses which I will be incurring because of availing loan for the said flat.
5.What is the consequence from the bank side towards me, since I have availed the loan and started paying EMI. Can I cancel the loan?
Asked 5 years ago in Property Law