I request advice from you regarding the method of proceeding against the builder - (a) whether Consumer court or Arbitration as Arbitration clause is incorporated in the Sale and Construction agreement and (b) what are the advantages and disadvantages of both the method?
This has become a trend among the builders these days to include an arbitration clause in the sale agreement whether the buyer is willing or not. Because the buyers know pretty well that they will not not be able to complete the project on time or even with the allowed extension and they are aware that the buyers will straightaway approach consumer forum for getting their grievances redressed including compensation against the builder for delay and mental agony etc.
This arbitration clause will protect them as a shield because the arbitrators will be from their side and they are almost the paid employees of the builder firm.
So you wont be able to get any justice once the matter is referred to an arbitrator who will be lopsided or show partiality to the builder side owing to the faith of the consideration he receives.
This is the clever and cunning tactics adopted by the builders these days.
However nothing forbids you from approaching the consumer forum even if there is an arbitration clause embedded to the sale agreement terms and condition.
You may even decide about cancelling the booking and the sale agreement if the situation is not conducive and not affordable.