Refund with interest in maximum 45 days. Failed to refund, send legal notice, if amount not refunded within 7 days, you will be constrain to initiate prosecution under Indian Penal Code for cheating, RERA and consumer forum.
Housing society
Respected sir/madam, I have booked plot in one of the Housing cooperative society in Bangalore 4 years back and since then there is no development of land . So I have cancelled the plot and applied for amount refund from the society . Now it's been more than 5 months that I applied for refund and I have not received the amount , Society is keep on extending the dates of refund . I heard that as per housing society act societies has to refund the amount within 3 months from the cancellation of plot from the members. So I need help to understand the legal options to handle if any extreme situation. Kindly advise on below queries. 1) Is it true that societies should refund amount with in 3 months of cancellation of plot per societies act? If no pls let me know what is the time limit set for refund per act . 2) what are the legal options I have if society failed to refund the amount with in the time limit set by govt. 3) Is ther any option that I can claim interest for my money if society fails to refund with in set time limit.
Asked 4 years ago in Property Law
Religion: Hindu
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13 Answers
1. You have an positive option to file a grievance petition against the Society, in the local Consumer Court, for their illegal trade practice, negligence, deficiency, harassment, intimidation, cheating etc.... with proper documentary evidences and you can claim damages /compensation & interest on your investment, and for your physical & mental trauma.
2. Issue legal notice to Society and direct them to return your money with interest within 30 days. You may file above petition, within three years AFTER date of Legal Notice to Society.
You can file a consumer complaint for deficiency of service and seek money from them with compensation
You can make complaint to sub-registrar of the CO-operative Housing society regarding. But before that kindly check By laws created by the society.
If you have those By laws and that also registered by laws.
1. You may serve society with a legal notice to refund the amount if on notice they fail you may file a complaint before the consumer court seeking refund along interest and compensation.
Issue legal notice to society to refund your money with interest
2) if they fail to do so file suit seek court orders to direct them to refund your money with interest
3) as per RERA refund has to be done within period of 45 days of cancellation of booking
1. Yes.
2. Serve them with a legal notice and if they don't reply than file a complaint against them in the registrar cooperative Societies office
3. Yes . You can claim bank rate interest for a period of delay.
1. As per the National Consumer Disputes Redressal Commission Home buyers can now seek a full refund from society/builders with 10% interest if the possession is delayed beyond one year.
- Further , if the possession is not delivered on time, a purchaser can send a notice to the society for the refund of the amounts paid along with interest and damages.
2.You can lodge your complaint before the Consumer Court .
3. Yes,
1. Even though the laws are very strict in this regard, they are always flouted.
Hence you can approach the case legally instead of begging them.
2. First you issue a legal demand notice and then file a money recovery suit against the society before civil court.
3. Yes, you can claim interest for the period of delay to return the booking amount.
You can issue notice demanding the refund of the advance paid by you.
If the society fails to refund, you can initiate proceedings against the society.
You can also claim interest on the amount paid by you, also interest on the said amount and damages for causing delay / mental agony etc.
You can file case before Consumer Forum claiming above.
In case if society refuses Or delaying to repay the booking amount even with a clause present in the agreement, you may file a case with the consumer forum asking for a refund with interest.
1. Yes it is true society should refund the amount with in three months of notice for cancellation.
2. Send legal notice to society for recovery of money paid.
3. If they refuse to refund the money then file recovery suit to recover the money paid along with interest and compensation for harassment and agony suffered due to delay in development.
1. The remedy is to sue the society for refund of amount with compensation in the Consumer Forum as this is tantamount to deficiency in service.
2. Serve a lawyer's notice to society before going to court.
