Builder denying to build house after sale agreement due to area price hike.
I booked an independent house in a gated society in Feb 2017 and paid the 20% of sale consideration amount as part of agreement. In agreement, it was mentioned that it will be completed and give possesion in 5 months. But still the house is only half constructed.
Later, got to know that few of the independent house of this gated society is combinely mortgaged by Tata Capital (because builder took some loan and repaying slowly). And my independent house is also in this mortgage list. When I inquired about it from builder then he told that we will repay whole loan amount to Tata capital in few months and I should not be worried about it. But till today itself, they didn't clear the total loan amount.
As of now, I have paid 20% of sale consideration amount only and contacted one of the bank for home loan. Each and every criteria was fulfilled from my end and bank is ready to sanction home loan for rest 80% amount & waiting to release the amount from last 6 months, once 80% construction is completed. But the independent house is only 50% completed as of now.
Now, the price of home and land in this area got increased a lot and builder is demanding extra 10 Lakhs on sale consideration amount to build the same house now. Or he is saying to take your money back.
But I don't want my money. I want my house in same sale consideration amount as per agreement.
I am daily facing harassment from builder and feeling helpless from last 1.5 years.
Kindly help me that what action I can take or how should I proceed to get my house on my name.
Asked 13 days ago in Property Law from Hyderabad, Telangana
They can not demand money other than what was agreed upon. Further they can not also unilaterally change the terms of the Contract. If any terms of the Contract is to be changed, it has to be agreed upon by both the parties and therefore their demand of extra money as well as change of exit plan is contrary to law and further amounts to deficiency in service. Therefore you can file a Complaint in a district forum.
File suit for specifuc performance.
You can file a suit for specific performance of contract since there is an agreement between you and builder he's bound to fulfill it and if he refuses to handover property and asking you higher amount approach court by filing suit as mentioned above