Builder delay on housing project

Dear Sir, This project is a 150 houses villa project. But To make agreements and process loan, proper approval on project has yet to come. Most of houses are already sold out and the builder taken about 20% of amount also to start agreements by saying approvals will in 1 week. Booking were happened from last one and half year. And he collected 20% amount six months back. But every time he says, they are facing troubles at HMDA office regarding bribes for getting approvals, and by next week we are expecting approval. This statement continuing from last six, seven months. Unfortunately no body has collected any land documents..etc expect their payment receipts. this is just because few people trust on him based on his previous projects. So all people went like that by hearing his stories. Now if we take our money back, we are going to loose the appreciation happened in this last one and half year which is very huge in Hyderabad area. How to recover our loss, and made to complete the project quickly or what kind of legal actions we can take against him to recover our money with loss of interest happened.



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