Builder taken token amount of 5 lacs, for 46 lacs of house price in the name of booking and hounered to get the approvals with in a month and total construction in a year. But till now its more than a year, after number of follow ups now he is saying approval not coming so take your money back. Where as myself blocked with that house booking and didn't invested anywhere. And prices gone skyroketed over there, now he is selling similar house around 70 lacs. For a situation we are getting doubt that he is cheating in name of saying approval not came, so that he wants to sell it again with higher price. If we ask approval file number also, he is not giving. What kind of action I can take against him?
Sir, Please let me know whether you had executed any written agreement with bulder such as Agreement of sale /MOU. Time is regarded as essence of any agreement/ contract. If the builder fails to full fill his part of obligation as stipulated under the said agreement, you shall be legally entitled to immediately serve a legal notice seeking specific performace. You can also initaite a criminal proceeding for cheating simulatenously. You can also approach RERA, if applicable and also consumer fora, for redressal of your grievance.
No agreement is done. I was actually waiting for the approval to get the agreement done. I only paid amount and took payment receipt. He supposed to get the approval in one month time and subsequently agreement to do. But that was not happened
RERA requires builders to submit the original approved plans for their ongoing projects and the alterations that they made later. They also have to furnish details of revenue collected from allottees, how the funds were utilised, the timeline for construction, completion, and delivery that will need to be certified by an Engineer/Architect/practicing Chartered Accountant.
If the promoter defaults on delivery within the agreed deadline, they will be required to return the entire money invested by the buyers along with the pre agreed interest rate mentioned in the contract based on the model contract given by RERA.
If the buyer chooses not to take the money back, the builder will have to pay monthly interest on each delay month to the buyer till they get delivery.
There is no any agreement done on paper. That is what is my problem. Only a payment receipt is given on paid date about an year ago and remainining all his commitments are verbal words only. I don't know how far RERA will in this case. But is there any other way that we can fight legally? One more point is that it is not only done for me, there are other people to. This is a 150 houses venture.