Refund of amount from builder
Hi,
I booked a commercial office space with a particular builder in 2007 and paid an initial deposit of 15 %.
In 2008, another deposit of 15% was made. In papers, it was a CONSTRUCTION LINK PAYMENT PLAN. Date of completion: Aug.2010. Allotment letter was issued in 2008.
No builder buyer agreement was signed. Till 2011, construction was going at very very slow.pace. No demands were made. In 2013, we were told that the area was increased by 30 % owing to some change in floor plans.
In protest to slow pace of construction and oral denial of builder time and again to refund amount, we stopped making payments. interestingly, the builder also didn't make any demands for money, no interest letters on late payments etc. Just casual reminder in 2014 to deposit balance amount so that builder buyer agreement can be finalised.
Now, still it seems the project will be completed by late 2016.
Can I seek refund with interest from the developer or not? If yes, interest will be calculated from which date?
Asked 9 years ago in Property Law
Religion: Hindu
Sir,
Can I seek Interest on my 30 % deposit owing to loss of interest in possession of property due to extraordinary delay
Asked 9 years ago