Hi, NCLT and RERA both are suitable options for you , as they are fast trial courts and relief is granted to the allotte in a very short period of time as compared to the consumer forum ..Further it also depends upon the advancement and status of construction of the project ..

You should cancel your booking and seek refund 

If builder refuses to refund file complaint before RERA and seek refund of money paid by you with interest

you would get fastest results 

You can first issue a written communication sent by registered post to the builder intimating your decision to cancel the booking owing to the reasons that you may rely upon and demand refund of booking amount after deductions of nominal charges and incidentals.

On the refusal or no compliance by the builder you may approach RERA, provided the builder is RERA registered.

If not you may approach consumer forum seeking releif and remedy to the issue including compensation for the mental agony created by the builder in this regard. 

The best and most effective remedy to get your money back is is by filing a complaint against builder in NCLT by way of insolvency petition which is the fastest way to get your money back as Consumer courts take a long time to be disposed off. Also, RERA is a new act, so the implementation and execution is not there till date.

I deal in NCLT cases in Delhi. Feel free to contact if you want any legal assistance in this matter.

Moving consumer Court will be the best option

Rera is best option

Fast and time bound

Awards interest and compensation in fit cases

Dear Client,

IF there`s is delay in delivery of flat and project is under construction and registered with RERA than RERA best approach. refund in 45 days.

NCLT jurisdiction when actual default committed by promoter. 
Consumer forum - consecutive remedy for refund and along with interest and compensation 

If the project is registered under RERA you should go for a RERA complaint for delay and the seek refund along the interest. 

If not RERA registered go for a consumer complaint according to the jurisdiction, 

In case the company is going to be insolvent or there are no chances that the project will be finished then you can approach NCLT as Financial creditor.

Hello,

No , i will not suggest you to approach NCLT . You should approach consumer forum and would like to suggest you to hire a good consumer forum lawyer for the same .

Regards.

You may go ahead and file a case before NCLT. Let me know if I can be of some help to you.

regards

Dear Sir, RERA is the best option for you. 

A homebuyer can approach the NCLT under the Insolvency & Bankruptcy Code 2016 (IBC). If a buyer fails to offer the assured returns that have been promised to a homebuyer, the homebuyer is entitled to proceed with insolvency proceedings against the defaulter (builder) under the IBC.

1) You can file complaints in RERA and Consumer Forum against builder.

you are a homebuyer then how come you have to move NCLT and your related right as homebuyer under company acts and insolvency and bankruptcy act is not of secured debtor.

So you still has option to move to RERA under its provision but as NCLT and RERA deal under different laws and both has clauses to enable them to operate in different area.

All are good options depending which one you want to exercise. You can take telephonic consultation with me through kaanoon.