Dear Forum, I booked one Flat in Today's Ridge Residency, Sector 135, Noida Expressway, Noida, in November 2011 under the down payment plan. After initial booking amount of Rs. 3,00,000, I took loan and paid all the dues as per the agreement. I paid 90% amount of the total cost of the flat. As per the Builder - Buyer agreement, Today Homes was supposed to deliver the flat within 30 months from the date of booking. After that my nightmare with the builder started. I followed up regularly with the builder but every time they has one answer that it will be delivered very soon but the ground reality is totally different and does not go with this line. Till date (08 May 2017) even the structure is not complete and as per the verbal communication the work speed is slow because they are working on another tower. I do not think that builder is in position to deliver my house in next two year. I am looking for different options to demand compensation on my invested money. It is getting really hard in me as I am staying in rented accommodation and also paying the full EMI of Loan amount. I seek expert guidance and suggestion from this forum on below point - 1. How to proceed with notice 2. How to calculate penalty. It should be only on the Rent?? Or on the whole amount which I have paid to the Builder or both ?? 3. Should I ask for refund or only the penalty amount. Kindly help. Thanks & Regards Siddhartha
Ask a question and receive multiple answers in one hour.
Lawyers are available now to answer your questions.
Issue legal notice to builder to pay compensation for delay in delivery of possession. If builder refuses File complaint against builder before consumer forum and and seek orders to direct to builder to pay compensation for delay in delivery of possession
2)) also seek rentals paid by you for the period of delay
3) also seek litigation costs from builder
Hello Sir, Thank you for your quick response. I am left with one pending query - Should I consider the amount paid (in my case it is 40 Lakhs) to builder while calculating the compensation or just the rent + interest other expenses for the purpose. Thanks & Regards Siddhartha Kapil
I seek expert guidance and suggestion from this forum on below point -
1. How to proceed with notice
You can issue a legal notice to the builder after you found that all the talks and efforts failed to yield any fruit or proper response or a solution to the problem.
2. How to calculate penalty. It should be only on the Rent?? Or on the whole amount which I have paid to the Builder or both ??
The penal interest or the penalty shall be on the basis of the amount what yo have paid so far.
3. Should I ask for refund or only the penalty amount.
If you are not sentimentally attached to the property and feel that you may go for purchase of property in some other place, then you may communicate your decision to cancel the booking quoting the inordinate delay in completion of construction and handing over possession as well as deficiency of services as the chief reasons for your decision to cancel the booking.
Or if you really would like to get the property after a long wait then you may opt for penalty option alone.
I am left with one pending query - Should I consider the amount paid (in my case it is 40 Lakhs) to builder while calculating the compensation or just the rent + interest other expenses for the purpose.
You may seek penalty to the amount you have invested in the property so far and also rent what you have paid beyond the assured date.
You should consider both the amount paid by you to builder plus the rent paid by you for alternate accommodation in calculating compensation to be claimed for builder
Dear Siddhartha
Please file consumer complaint against builder under section 17 of consumer act.
There are few latest judgements which can help you to proceed further.you can claim 12% interest on the amount you depositing.
Feel free to contact me.
REGARDS
SAPNA SETH
