Paying home loan but no sign of flat in hand

prasad (Querist) 20 March 2018 This query is : Open
in 2013 i have got the flat @2000.00INR/Sqft,now the flat price is arround 4000.00INR/SQFt
1)bank has approved 80% flat value as home loan & disbursed 80% of loan amount to builder,still 20% is not disbursed,how ever i am paying EMI as normal till today.
2)30 month bank from today builder run away & bank has taken his property bcz he became defaulter.,his all project has been stopped,even few project holders all ready filed cases against to builder.
3)almost 1year back from today we made it to association as per law to go to court or to find out better option to complete the construction but how ever its not completed & stopped because of shortage of fund,in our project only 30 or real customer ,40% land owner share,& balance flat has been given to supplier who has been giving material for project work..
4)Now i have lost my job & i have to pay rent/my daughter school fee etc.& more....even loan EMI,
5)bank is knowing every thing about the project.
6)i am not in situation to have regular payment,& there is no positive sign of construction.
7)flat registration is not executed bcz only 40% construction has been done based on my views.
8)kindly suggest me for better option what to do?
9)can i approach to court alone,bcz my hope is not making me to wait for longer.

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P. Venu (Expert) 21 March 2018
Yes, you can approach the Court or the consumer forum. However, a joint action could be a better option.

Dr J C Vashista (Expert) 22 March 2018
Consult and engage a local prudent lawyer for better appreciation of facts, analyse, guide and proceed in a professional manner.