Hirco oragadum project - false promises

Aneet Chaku (Querist) 02 October 2013 This query is : Resolved
Dear Sir/Madam,

We bought a 2 bedroom flat with Hirco project at Oragadum in Chennai in August of 2012. The scheme under which the flat was sold included Hirco reimbursing the EMI’s till possession in lieu of that they have charged a premium of Rs 3950/Sq. ft. vis-à-vis the normal rate of Rs 3650/sq. ft.

Although it included a bit of a follow up we were getting the Cheque however since June 2013 Hirco has stopped reimbursing the EMI’s. We paid June and July EMI’s thru internal resources but have not been able to pay EMI’s since August 2013 as our household budgets did not include Hirco not being able to pay up.

Whilst I understand that I got carried away by the brand of Hirco to ensure that they would keep their side of the deal and with Axis bank that they would have done due diligence of this project and scheme, I write to you to check if there is any other way out of this sticky situation which can help me avoid getting my credit rating mauled and salvage the investment that I have already made in this property.

Look forward to hearing from you.

Cheers,
Aneet Chaku
M : 98200 18627

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ajay sethi (Expert) 02 October 2013
check the agreement signed by you with HIRCO . contact a local lawyer and issue legal notice to HIRCo to comply with terms of contract .

Raj Kumar Makkad (Expert) 02 October 2013
Avail the services of a local lawyer and show him entire relevant documents so that he may advise you properly.