Nclt or consumer forum

This query is : Resolved 

15 September 2020

I invested in an under construction housing project. Agreement signed in 2015. promised date of possession :- 5 year from date of agreement plus 1 year grace.

RERA date was feb 2020 which the builder extended to feb 2021 and now to feb 2022 citing COVID.

Project is stuck since dec 2017. no progress since then and does not looks like it will progress.

we have sufficient numbers for NCDRC revised limit of Rs. 10 crore as well as NCLT(IBC) . Which forum should we move to recover money

Thanks and Regards
Aggrieved buyer

Dr J C VashistaOnline (Expert)
15 September 2020

Although there is huge pendency you should prefer NCDRC

Jatin Sapra 9312223345,Delhi (Expert)
15 September 2020

There may be difference of opinion but I opine for NCLT as it puts company under some pressure at least.

Advocate Bhartesh goyalOnline (Expert)
15 September 2020

For better adjudication approach Consumer Forum having jurisdiction.

P. Venu Online (Expert)
15 September 2020

It is a matter of discretion of the aggrieved persons and the legal professional they would be engaging.

Sourav DasOnline (Expert)
15 September 2020

Approach before NCDRC

R.K NandaOnline (Expert)
15 September 2020

Better opt for ncdrc.

Shilesh PatelOnline (Expert)
15 September 2020

agreed with the expert's file a complaint in NCDRC.

Adv Shailendra Deshpande Online (Expert)
15 September 2020

Since RERA is applicable, you have option to file case under the same. It gives faster remedy in case of withdrawal from project or for delayed possession. Check with State RERA provisions.

Rajendra K Goyal Online (Expert)
15 September 2020

What is the total value of the property with interest, compensation claimed?

Presently the cases upto one crore are to be filed at District Consumer Disputes Redressal forum while cases upto 10 crore can be filed with State Commission.

You have the option to move RERA or NCLT.

Rajendra K Goyal Online (Expert)
15 September 2020

You have not mentioned the tune of your claim and the grounds of your claim.
If you want to get back your money paid, it is doubtful as the date for handing over is not over as per your agreement (four year + one year).

Rajendra K Goyal Online (Expert)
15 September 2020

RERA deadline is for project, it may not affect your claim, moreover, it is not over till date.
Sometime while getting Registration of project with RERA, developers show that the project is new, no advance taken from any allottee. Try to get documents from RERA submitted by developer through RTI. It may be helpful in your claim.

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