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singh   26 October 2016

Builder refuse to refund my money

I have booked my flat with builder 4 months back and signed the sale agreement as well as construction agreement.  I have paid Rs 10 lakhs.The sales representative promised me  that he will try to dispose my old property and reinvest that amount to this new booking flat. But now i am unable to sell that old flat and also i have realised that i cant pay and contd my booking flat as resale flat is cheaper available . So i told the builder office that i want to cancel my booking. But they are not attending my cals nor reply my e-mails.

I had gone directly and explained my problem  but they are saying according to clause they will deduct 15% ,so i will not get any refund.I am shocked. what i should do now to recover my money from this builder.pls advise. People say going to consumer court long years and it is NOT easy to recover this huge amount. 



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 7 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     26 October 2016

Is there any clause in sale agreement about your old property transaction

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     26 October 2016

Is there any clause in sale agreement about your old property transaction

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     26 October 2016

Is there any clause in sale agreement about your old property transaction

Ms.Usha Kapoor (CEO)     27 October 2016

You can  recover your money with  interest and damages in  civil court through summary suit filed under  order XXXVII./  Order 37 CPC which fasttracks the case. Also you can file the case in a consumer  forum of appropriate Jurisdiction for deficit of service on the builder's part.I'm of  the opinion that /civil suit through summary proceedings or  summary trial is better. The decicion is up to you.If  you appreciate this answer please click the thank you button on this forum.

G.L.N. Prasad (Retired employee.)     27 October 2016

The old property transaction might have been through a word of mouth.  To morrow if the builder brings a purchaser, with half of the market value, you will naturally reject the offer, and his promise to bring a builder is complete.

It is your personal problem.  If you are serious and not greedy to get higher price, try to dispose the old building and in the meanwhile raise a loan through bank for the new building. (You can mortgage the old building with SBI and get substantial amount as loan under their scheme mortgage loans)

Kishor Mehta (CEO)     27 October 2016

Sir, The terms and conditions of the agreement with the builder will play a pivotal role. The refund, recovery and/or deduction will entirely depend on them. Good luck, Kishor Mehta

Kishor Mehta (CEO)     27 October 2016

Sir, Under the circumstances the best option would be a compromise with the builder, taking recourse to legal action will only leave you poorer. Good luck, Kishor Mehta

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