BUILDER IS NOT COMPLETING THE PROJECT
Querist :
Anonymous
(Querist) 07 November 2009
This query is : Resolved
DEAR FRIENDS,
I NEED YOUR HELP TO TAKE DECISION IN MY PROBLEM:
I HAVE BOUGHT A FLAT IN DEC,08 FROM A BUILDER. THE FLAT WAS SUPPOSED TO BE CONSTRUCTED TILL AUG,09 AND POSSESSION WAS TO BE GIVEN ON COMPLETION OF CONSTRUCTION .THE PROJECT OF THE BUILDER WAS APPROVED BY ING VYSYA BANK AND MY HOME LOAN WAS SANCTIONED ON THE BASIS OF APPROVAL OF THE PROJECT AND BUILDER BY THE BANK. I HAVE TAKEN LOAN OF 85% VALUE OF THE PROPERTY AND GIVEN TO THE BUILDER IN DOWN PAYMENT. MY EMI OF THE LOAN WERE STARTED IMMEDIATELY WHEN I TOOK LOAN. NOW THE POSITION IS THAT THE CONSTRUCTION ON THE PROPERT SITE IS VERY SLOW OR ALMOST NIL AND THE TOWER IN WHICH MY FLAT EXISTS HAS NOT BEEN STARTED EVEN. i DOUBT THAT THE BUILDER IS CHEATING US AND HE WILL NOT FULLFIL HIS COMMITMENTS.
NOW I NEED YOUR HELP IN FOLLOWING POINTS:
1.) WHAT REMEDY IS LEFT WITH ME IN SUCH A CASE WHEN BUILDER IS A DEFAULTER, WHERE SHOULD I GO TO PUT MY CONCERN.
2.) MY FLAT HAS NOT BEEN CONSTRUCTED AND THERE IS NO HOPE OF COMPLETION OF FLAT IN NEAR FUTURE THEN CAN I STOP MY EMI OF THE LOAN ON THE GROUNDS THAT SINCE I WILL NOT GET FLAT WHY SHOULD I PAY THE EMI.
3.) WHETHER THE BANK WHICH HAS APPROVED THE PROJECT BEARS ANY LEGAL LIABILITY TO US IN CASE OF DEFAULT BY THE BUILDER. WHETHER THE BANK HAVE TAKEN ANY SAFE GUARD WHILE APPROVING THE PROJECT TO SECURE ITS OWN INTEREST AS WELL THE INTEREST OF THE BORROWER.
4.) WHETHER BANK CAN BOUND US TO PAY THE PAY EVEN IF THE PROPERTY IS NOT GIVEN POSSESSION OF.
5.) HOW CAN I SUE THE BUILDER AND WHAT IS THE CHANNEL TO GO IN RIGHT DIRECTION.
6.) WHAT SHOULD I DO TO SAFE GUARD MY INTEREST IN THE LIGHT THAT THE BUILDER IS A DEFAULTER AND HE MAY RUN AWAY WITH ALL MY HARD MONEY.
I HOPE I WILL GET SUGGESSTION FROM YOU IN THE LIGHT OF LEGALITIES.
REDARDS,
VISWAS BHATT
adv. rajeev ( rajoo )
(Expert) 08 November 2009
First it is important to know the agreement betwee you and the builder. Whether there is any agreement regarding the completion of project work by the builder? What is the time limit for the completion?
If there is agreement regarding the above said both, then u issue a notice regarding non rendering of better service.
When u have taken a loan u r bound to pay the inerest and premium amount in reguar installments.
before he runs away u cannot do anything. U cannot file a criminal case againt him, because it is not criminal nature, it is civil nature.
If you want to stop the EMI then you will have to repay the entire loan.
U cannot stop EMI only on the ground that flat is not constructed.
Y V Vishweshwar Rao
(Expert) 08 November 2009
I agree with with R S Vadrali !
1 Issue Notice demanding the Schedule Performance and delivery of possession of the Flat
2 EMI can not be stppoed ( it can be rescheduled )
3- Bank has no liability - it has adavnced amount loan to you - it is not the guarantee of the performacne of the Builder .
4- Bank is entield to Demand for payment of EMI
5- You can file suit or consumer dispute- case against the Builder
Raj Kumar Makkad
(Expert) 08 November 2009
Bank has no liability in case buildor has not completed the construction and has not delievered the possession in time to you. You can give a notice to the builder citing the concerned rules/terms vide which he had to complete the construction and had to offer possession to you and the schedule of payment followed by you till to date. You should also mention his failure to keep his promise and should threaten to either offer the possession within the specified date or to face the legal action at his own cost and expeses. Then after the expiry of the term of the legal notice to be served through your local engaged counsel, file a consumer complaint and obtain stay order of further depositing EMI on the ground of failure of the builder.
Querist :
Anonymous
(Querist) 10 November 2009
Dear friends, there is a association which has been registered against the above mentioned builder which contains 70 members and they have filed case etc. against the builder. If any decision is given in their favour will that give benefit to only those members of the association or the benefit will be given to other people also who have booked flats with this builder. Kindly help me.
Y V Vishweshwar Rao
(Expert) 12 November 2009
Are you not member of the said association-? if not member , immedietly take membership in the said Welfare Association and implead your self in the case filed , which is pendinf disposal!
