Legal process for compensation claim from real estate builder
I have booked an apartment with a builder 2 years back by paying 10 lacs as advance. Builder assured that the project is going to be launched soon and given a very attractive rate which tempted me to go ahead with booking. since 2 years the project is not launched and the builder has no clue on the same. it is not yet approves by RERA. He is ready to refund the amount that I have paid with out any interest. I want my money back along with interest and additional compensation for losing other investment opportunities. shall.i first take back the amount that i have paid and then proceed legally? or I have to approach legally with out taking back the principal amount? if i take back the money will i have legal right to approach consumer forum/RERA for additional compensation?
Asked 6 months ago in Property Law from Bengaluru, Karnataka
I got mixed response from many lawyers. Few are suggesting to take back the principle amount and then proceed to consumer forum, few are suggesting that I will not have any legal right to go to consumer forum once the principle amount is refunded by the builder. little confusing. The builder is not taking any undertaking while refunding the principle, I have checked with one other person who took back his money. They are taking only a cheque receipt signature and no terms are attached to it. So shall I go for refund and then proceed to consumer forum?
Asked 6 months ago