Builder not increasing price
Dear Sir,
I had booked a flat in October 2014 during the launch phase at a price of Rs.3600/- psf.
The price of the project was increased by Rs.100/- psf in November 2014 and the construction began shortly (around December 2014 or January 2015).
The construction is in full swing and 9th floor of my tower has been constructed (12th floor of other three towers in the project have been constructed) as of today.
I booked the flat as an investor, but unfortunately the builder has not increased the price after the last price increase in November 2014. Now I am unable to off-load my booking and exit. Is there a legal wrong-doing on part of the builder by this practice and can I challenge this in consumer court and get my money back or force the builder to increase the price ?
FYI, the market value is atleast 4200 psf, the builder is artificially keeping the price low to stay competitive and sell his inventory.
Asked 7 years ago in Property Law
Religion: Muslim