Hello, We have booked a property on 31-12-16 under subvention scheme where the builder promised to pay PRe-EMI till possession. The date of possession in Agreement to Sale is 31-03-19 with a grace period of 6 months. Till date all Pre-EMIs have been satisfactorily paid by the builder. Today they have informed us that due to some regulatory and other changes, the bankers have declined to extend the subvention scheme, so we will have to bear the Pre-EMI from 01 July. The builder has promised a credit note that is supposed to give us financial relief. The date of possession now stands postponed to 31 Dec 2020. What are the options we have? On the financial front, we have faced a few problems, which might make payment of Pre-EMI of a huge amount right now. Could someone guide us here on the options available 1. Can we cancel the property booking on the grounds of this inordinate delay? 2. What is the kind of amount that the builder is liable to pay to us in these cases of delays? 3. Is going to RERA a feasible solution ? Thanks
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You can cancel booking on account of inordinate delay in delivery of possession
2) if you don’t cancel booking builder is bound to pay you compensation for delay in delivery of possession
3) you can file complaint against builder before RERA and seek compensation for delay in delivery of possession
Dear Sir,
If it is RERA displayed property then you can go to RERA or otherwise you can approach Consumer Forum for appropriate remedy.
1. You can file your grievance petition before RERA, but only AFTER you have served a Legal Notice to the builder to withdraw your booking, refund of amounts with Interest etc.... citing proper justifications for cancelling the booking.
2. RERA would take cognizance of your available documentary evidences, your legal notice to builder and his replies etc.... and depending on the merit of case, RERA would pass order for refund of your amounts with interest and compensation etc....
Govt. has prohibited sub vention scheme. You can cancel the deal and demand refund for failure to buyer to pay EMI`s for whatever reason and delay in possession.
Refund payable with interest.
IF builder don`t agree, complain in RERA.
1. The supreme court as well as consumer fora have time and again made it clear that inordinate delay in delivering the property is an instance of deficiency of service and hence the buyer can proceed to cancel the agreement on this basis.
2. Once you do the builder is bound to refund full amount with interest along with damages and compensation of such amunt as the fora so decides.
3.The consumer forum is more preferable option to be explored than RERA Tribunal.
You can sue the builder under the law , consumer forum the value of property is less than 1 cr, demand compensation in civil court.
You can also make representation to give the money back and surrender the property for making records. Builder wont agree to this, but you will get an evidence in your favour for court.
Once you are done with these steps, talk to me through Kaanon.
you are entitled to get compensation delay period if the said condition is availed in the terms and conditions of agreement. you have to issued a legal notice to him for the same, if the said builder failed to comply the demand legal notice thereafter you have to approach the concerned jurisdictional consumer forum.
yes you can go to rera and cancel the same on basis of inordinate delay
1. yes you can write an application for the cancellation of the allotment and for refund of the money that has been paid by you.
2. Entire amount that has been paid by you, along with the interest.
3. Yes. But before going to RERA, send a notice of cancellation with a request to refund the amount and then if they do not refund send a legal notice to them and thereafter file a case before the RERA.
Regards
1. See you can send a notice to builder to pay the amount as promised if he fails a consumer complaint against the builder can be filed. In case he fails seek cancellation and refund along the interest of any advance amount paid by you.
Alternatively you can also file a RERA complaint it is fast .
2. The builder has to pay compensation for delay bit since it is agreed grace period it won't be taken as delay.
1. You can cancel the booking for the delay but since you are in the subvention scheme, the bank will pounce upon you for EMI loan repayments.
2. He is generally required to pay the penal interest at the rate as agreed upon for the period of delay towards the delayed possession.
3. If the builder is not cooperating then you may approach RERA for relief
Dear Client
1) yes you can cancel the booking on ground of delay in project completion and not giving possession
2) If you cancel the booking the builder is liable to pay the amount you have paid till date with interest.
3) Going to RERA is best solution if you want to cancel the booking and get the refund.
Thanks, everyone for your valuable opinions. I have gone through our Agreement to Sale and Construction Agreement. There seems to be no mention of any penalty payment from their end for the delay in handing over the property. From all the advice, these are the steps we have arrived at. Are these the right steps to be taken? Please advice, if we are going wrong anywhere 1. Send an email to the builder for surrendering the property and canceling our allotment and asking him to refund the entire amount. 2. If he does not agree, send a legal notice. 3. In case of no proper response for legal notice, we should approach RERA /Consumer Court. (When we signed the agreement RERA was not in place, but subsequently, the project has been approved by RERA, so where do we stand in such cases?). 4. When do we intimate the bank regarding our cancellation of the allotment? Thanks again to all the lawyers and Kaanoon.com for creating such a great platform.
RERA interest provision will prevail. You are entitle to refund with interest for delayed possession. Or interest till possession not deliver.
Send legal notice for cancellation and refund. If not responded, file complain before RERA.
Ask the bank to hold emi.
You can approach RERA as project is registered with RERA
2) you can cancel booking and send intimation to bank not to disburse further funds to builder
1. Yes you can send a mail to builder asking cancellation and seeking refund.
2. Yes you send the notice.
3. See you can avail anyone of opportunity RERA is fast in comparison with the consumer court.
4. You can send copy of notice to bank too.
Yes you can do the above from 1 to 3.
You can inform the bank about the prevailing court case in consumer court or rera.
As soon as you send a notice to builder. Send the same to bank as well