Title of the document
I have given my plot for development to the developer on the condition of lice development on the ratio of 50:50 on saleable area and did the allocation of our allotted portions in the agreement and we already registered our development agreement in sub-registrar's office in 2016.
The development period is 24 months and we give 6 months grace periods are also over Feb 2019. We are keeping our inventory in stock, so we mentioned penalty close on delayed compilation or possession of our allotted share units as a loss of rent from house property. We have also mentioned thereat after received the OC portions of allotted share vest of his/her/its/them according to agreement and the OC received since on Dt. 11.07.2019 and we take some refundable security deposit for fulfill the performance and obligation for complete the project on all manners and executed allotment deed and handover the successful physical possession with set of keys to landowners and return the security deposit after fulfilled all the condition mentioned in agreement.
But here developer is neither signing on our allotment deed and handing over the possession of our allotted share units and nor responding from last 10 months and he illegally broken our locks and encroachment on our property and demanding his security deposit without signed on stamped allotment deed and handing over the possession of our allotted share units.
We have all the legal ownership title of lands with us.
Pl advice the legal view, can we refancing on the boundaries of our land or any more legal option available for the landowners against the fraud and cheated developer?