Gagandeep Kumar (MGR) 01 September 2021

Money with buildee

I have given Rs. 2 Lacs to a builder as booking amount for a apartment in August 2014. Further to this in September 2014 i gave another 13 lakhs as advance towards signinging of sale agreement.

However, i could not arrange balance amount and sale agreement was never signed.

All amounts were paid is cheque.Also, the project is not even 50% completed till date which was supposed to happen in 2016.

I have been asking builder to refund my money that too without interest. But still he has not refunded.

Is there any legal route left to recover money as i dont have any sale agreement but the money was paid in cheque? Can i file police case against the builder.

Kindly advice.

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Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 01 September 2021

You can submit your grievances with R.E.R.A. Under RERA, not being able to get possession of apartments from the builder won't be a problem anymore. Developers who default the delivery date will be required to pay an interest rate of 2% above State Bank of India's lending rate to the home buyers. This is aside a possibility of imprisonment of up to three years.