We had provisionally registered a flat of 2 BHK (1350 sq. Feet) with Media Video Limited (Real Estate Division) on 12/08/2006 in their upcoming “MVL-Coral” Bhiwadi project. Basic price of the flat was Rs. 1550/- per sq. Feet. As per construction linked installment scheme, we paid booking amount of 10% i.e. Rs.209250/- on 24.08.2006 and within 60 days of booking 15% i.e. Rs. 313875/- on 28.10.2006. Next instalment of 10% + External Development Charges wer payable on commencement of construction.
The company vide their letter dated 3.03.2007 informed us that construction at the project site has commenced and is in full swing and demanded the instalment within a week of receipt of the letter. They also informed that individual finance was available on the flats and buyer's agreement was also ready.
As a prudent customers, we visited the construction site and found no such activity. We also came to know that due to certain required Govt approvals which company had not obtained, the construction activities were stopped by the govt. Authorities. We contacted the bank personal for finace who informed us that they were not financing the flats. We visited the company for buyer's agreement where we were shown a draft agreement of more then 26 lacs including Priority Location Charges. We informed the officials that column no. 9 of the construction linked payment plan stipulates 10% payment at the time of completion of outer plaster alongwith payment of PLC (optional). Officials insisted that all flats of the project are Located in Priority Location therefore we cannot be given liberty to exercise our option. We came back without agreement and payment of third installment and issued a letter to the company asking for withdrawl of PLC charges or cancel our booking. Since then we have issued no. Of letters and notices to the company. Company was giving us letters demanding installment with interest and otherwise threatening to forfiet our amount. They have now stopped any communication. Our faith has totally shaken due to blackmailing and arbitrary attitude of the company. We understand that the company has developed a very bad name in the area hence we want our hard earned retirement benefit money back from the company.
Please guide us about the legal recourse we have against the company to get back our money with interest and compensation.
