1. You can file a RERA compliant and can seek for interest around 10 percent along compensation.
2. Alternatively you can also file for consumer complaint if project is not RERA registered.
Advance paid but registration not completed
I had made an agreement for purchasing a bit of land with private real estate company around two years and paid an advance amount to them Till today i haven't received any necessary document to complete the registration . Hence i applied for cancellation of the agreement and now the real estate company is saying that they will not pay for the interest of the advance given for the duration they kept this amount . I want to know the following 1) How much interest rate i can claim from them for these two years which includes my other expenses incurred in going to their offices and my mental pressure i had faced for these two years and for loosing the other opportunities(even though i don't have solid proof for prooving loosing opportunities) 2) What rights i will hold as a customer against the private real estate company 3) What actions i can take against the real estate company legally .
Asked 4 years ago in Property Law
Religion: Hindu
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20 Answers
You xam claim any amount of interest but court will grant you bank rate.
You can go to consumer court and get compensation for delay and mental agony and torture
1) claim interest at bank rate of interest
2) even if you get your principal amount accept it
3) if builder refuses to pay file complaint against builder before consumer forum and seek orders to direct builder to refund your money with interest
4) in alternative file application before RERA and seek orders to direct builder to refund your money with interest
Interest is payable at the state bank of India prime lending rate plus 2% .
File complaint to rera claiming refund along with interest.
1. You can file a Police FIR, requesting investigation and charge-sheet, for offences like cheating, intimidation, fraud, breach of trust etc.... against the person, supported with all relevant supporting documents.
2. IF the Police does not take action, THEN you can file private criminal case u/s 156(3) Cr.P.C., in the local Magistrates court, seeking directions to the Police to investigate and file charge sheet. The said Person may come down for settlement.
3. You can also file a grievance petition before the local Consumer Court, for the trade malpractice, harassment, negligence & deficiency and claim the original amount alongwith interest (minimum 12% pa basis) and also compensation & damages. For all the above you would require proper relevant documentary evidences & witnesses.
Hi
Issue notice asking for refund of your advance amount alongwith interest.
You can ask interest @ 18% to 24%, however, if it goes into litigation and you prove your case the court will give bank interest and may grant more rate of interest from date of decree till realization.
You may accept the principal if the quantum is not high.
You can also lodge complaint with RERA bringing to their knowledge about the issue.
You can also file case before consumer forum.
Interest you can claim interest later better recover principal amount first. 9%
Interest with compensation and refund will get from consumer court.
Can FIR for cheating and consumer court.
1. You may claim the interest here at the prevailing bank rate.
2. First seek refund of principal amount and later on claim interest and compensation/damages etc.
3. You may first take recourse to sending a legal notice.
1. You can claim 18% interest.
2. You have all the right to recover the money.
3. File a case before the consumer forum.
Regards
If the project is registered with RERA than you can make complaint against developer and in the Consumer Forum as well of your city.
For you initial agreement kindly check termination clause in it.
You can cancel the agreement and claim compensation for losses and expenses and interest.
you can also approach before district consumer forum on defiency of service and claim refund along with compensation for mental agony.
you can file FIR u/s 406 and 420 of ipc against real estate company.
1. You cannot demand the interest beyond the market rate hence you may claim 24% per annum as interest towards the refund.
2.The agreement is generally valid for 3 years, hence you have an option to file a specific performance of contract suit against the realtors instead of cancelling the booking therefore the realtor may escape the interest portion under the cover of that he was always ready for performing his part of contract, you may have to be exercise caution on this if the builder is taking a defence on this ground.
3. For recovery you can either approach civil court or the consumer forum.
Thank you all for the responses.. on the same issue i need more suggestion and clarification on the below mentioned Queries. Please give response as point wise i mentioned 1) My agreement (Just written on Rs 100 Stamp Paper but not registered in Register office)was done before two years and in that there is a clause saying that UNDER ANY CIRCUMSTANCES MONEY WILL NOT BE REFUNDED BACK .. In this scenario can i claim my full refund with interest ? 2) My agreement (Just written on Rs 100 Stamp Paper but not registered in Register office)doesn't have any time duration that he will provide the LAY OUT PLAN(LP ). But verbally when i paid advance they said they will Provide LP with in one month from the agreement . Till now they didn't provide and I submitted cancellation letter before four months claiming to pay 24% P.A will i be favoured by the court in this scenario or the builder? 3) I have only original Copy of agreement and original receipts they had given to me .Will this proof be sufficient to fight against them in either RERA or Consumer Forum 4) How long approx will it take the case to be resolved separately in RERA or in Consumer Forum ?
Asked 4 years ago
1. Yes as the default is from there side they have to refund same.
2. Court based on the circumstances on there default may decide it in your favor.
3.Yes.
4 2-3 years.
All such clause regarding non refund of payment are now irrelevant after rera. You are entitled to get refund for non delivery of possession within the time schedule.
1) you can claim refund with interest as seller has not executed registered sale deed in your favour
2) you would not get refund at 24 per cent
3) you would at most get bank rate of interest
4) cases in consumer forum take 2 years to be disposed of
4) cases before RERA take 6 months or so to be disposed of
For cancellation you may either approach RERA or consumer forum, but for recovery of the amount with interest you may have to approach civil court.
No doubt the unregistered sale agreement is not enforceable in law however you can claim the booking amount based on this deed because it can be considered as receipt for the money given to the builder.\
There is nothing wrong even if you claim interest , let the court decide about it on merits.
1. yes
2.If not registered still it has evidentiary value in court and you can get the same registered later with penalty.
3.Yes its sufficient
4.It takes 2 to 3 months in RERA and atleast a year in consumer court. Consumer court is in favour of consumers than rera. you can file the case there to get good results
Agreements made on white paper also valid. so an agreement made on 100 rupees stamp paper can surely be valid if it fulfills all other conditions under the law and as per the law. But, if the agreement requires to be stamped and registered then it cannot be used as an evidence of proof before a Court of law.
1) Since he failed to perform his part of contract i.e., breach of trust you are entitled to cancel as he breached the contract.
2) Your notice is valid. If it goes into litigation mode, more often than not, court will grant @6% from date of filing till Order (if you win), thereafter they may increase the interest to 12 to 18% from date of order till realization.
3) The same is enough, you file Case before Consumer Forum.
4) Depending on the pending cases, it may take 2 to 3 years.
Dear Sir,
Normally the Consumer Court may not award you entire interest as claimed by you and even after getting award/decree it is very difficult to execute the same. It seems you are in dreams for interest etc. First get your case filed and then fight by engaging an competent advocate.
