Flat under construction
I booked a for an apartment under construction in Bangalore supposed to be handed over in December 2013. The builder had a Joint Development Agreement with Owner registered.
During April 2014 a sibling of owner circulated the share dispute to all banks that was filed in 2004. The two tower project is now 90% complete. The work was stopped somewhere in May 2014 as banks refused to release loan amount towards the flat. After several followups from flat owners, the construction again started after some contribution from flat owners and very little contribution from owner of the land.
I have paid around 80% so far and now the builder is asking to pay remaining to make it up to 95% so that he can at least complete the project and get the NOCs. However, I am skeptical to pay anymore as the case is still pending in the court. Please guide me if I should make further payments or should I insist on builder to raise funds from elsewhere and complete it, because he is saying he doesn't have any money left and cannot complete the project if we don't pay. Your help in this regard is highly appreciated. Thank you.