Abdul 02 February 2018

My money is stuck with the builder- need assistance.

Hi Team,
I am need of a real help here. Its little long story, I will cut short. There was a builder, I had invested 18.5lacs. He promised to give me a house in one of his upcoming projects. Now, he has a projects but in Khopoli, Nashik and I am from Mumbai so its impossible for me to take a house there. Coz I want to stay in the house and my job is in Mumbai. He said he do not have anything left in Nashik as it was given to other investors (I once thought of taking it in Nashik and sell it off). Now, his other partner is constructing a building and the flat is costing around 25lacs and 3 lacs extra for Registration n other charges and no maintainance till 5years. But, now his partner is asking me to pay another 1 lakh rupees out of that 3 lacs. And, he said my 18.5 lacks will be given to him by the original builder. But, now the issue is that this building which he is constructing is not a TMC (Thane Municipal Corporation) but its legal under Redevelopment. Now, I do not have 1lac rupees, I had asked the main builder to give his partner 1lac rupees and then adjust 17.5lacs in the flat. But, he says he doesnt have money as he has suffers losses due to Demonetization and some one from his relative ran away with 4crores rupees. Now, I am stuck in a big problem. the original builder now says lets make a "MOU- Memorandum of Understanding" by mentioning the flat number n other details, And I can or they can sell the said flat and then give the money to me. I really dont have any knowledege how this MOU thing works. Please help me, I am working since 10years and saved that much amount. So I have no money left with me now. In MOU can they sell the flat without my concerns, I was thinking what if they sell the said flat n do not inform me. Can I claim something with MOU. Like if I see any new owner in the said flat can I show the document and as per legal process ask them to vacant the house if I do not receive my money/ till the time I do not receive my money. Please give a suggestions, advices on what should I do. Coz, I cant complained against this person as India is big time corrupted country (We all know this), Once I said this, the builder said u can surely go and file a complaint against him. Please adive how I can get myself out of this situation.

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2 Replies

Adv Akhtar Ali Sheikh (Property Law Consultant) 03 February 2018

1. You can file a case of cheating against him if police really help you. He will face the music. 2. Get the house in khopoli or elsewhere and sell it albeit at some loss 3. If the other builder's house is not ready the question of sale is immaterial because unless he transfers it to you the house will be owned by him. 4. If nothing materialises Mou would be ok in which all the facts will be mentioned and the parties to it would be expected to act on the agreed terms.

Abdul 05 February 2018

Thnx for d suggestion. Police are not helpful at all. If he stands in court n says he can't pay my money but only pay me a little amount every month then I will hav to agree on it which I won't want to. What exactly is MOU. If MOU is made for one particular flat will the builder be able to sell it without my knowledge. And if incase he does that will I be able to claim that house.