1) the mistake you made was booking flat in pre launch stage . you should only book flat after building plans are sanctioned by muncipial corporation and commencement certificate and IOD issued . please note that it is illegal for builders to sell flat at pre launch stage . builders can do so only after plans are sanctioned by corporation

2) i do hope that payment of Rs 5 lakhs was made by cheque and you have receipt issued by builder .

3)the builder has shrewdly not given any document in writing wherein he makes commitment that building would be completed by December 2017

4)builder cannot arbitrarily increase the size of flat and demand more consideration for the same . if you have any evidence that flat would be of particular area only you can refuse to accept the increase size of carpet area of flat

5)the agreement you sign with the builder would mention the period of completion of project . in case builder fails to complete project within stipulated period provided in contract he would bound to pay flat owners compensation for delay in completion of project unless it is due to force majeure conditions

6)you are entitled to ask for inspection of documents of title .builder is bound to furnish you the same . only if title is clear and marketable should you invest in project .

7) since you are a group of 40 investors you should gang up together and force builder to later terms of payment clause

8) if you have agreed to payment of penalty of Rs 75,000 in case of cancellation of booking the builder would seek to enforce said provisions in the contract signed by you . even if it is not on stamp paper it would be binding .

9) you have the option of moving consumer against the builder for deficiency in service and for refund of Rs 75,000 as cancellation amount . you would have to make out case that you were forced to cancel the contract as builder arbitrarily changed the terms of contract and refused to listen to reason .

10) it is better to contact local lawyer . all documents signed by you need to be vetted for detailed advice

Hi, you have not suppose to book a flat with proper verification of the documents and in the agreement it has to be mention the date of Completion of the project and mode payment at different level of constructions so on going to the entire agreement you have to book the flat or other wise you will be in trouble and builder will not suppose to put a such a clause for the cancellation of the agreement and it will become illegal and you can cancel the agreement and if the builder refuse to pay the amount go the consumer forum for refund of the amount.

It is better to issue a notice for deficiency of services and for delayed possession and claim damages for the same.get the amount back from him by file a suit for specific performance.file a cheating case too.

1.yes.

2.builder has to complete project as per stipulated time stated in agreement.

3.best is to cancel booking.

4.after cancellation no such steps needed.

5.yes, builder can claim but you file consumer complaint in CF for refund of Rs.75 k.

A. When a home loan is obtained under any construction, property, the tax benefit in respect of interest can be reckoned only when the construction of the property is completed. For more clarification, contact local charted accountant expert.

B. Generally, period of delivery of Possession or completion of construction would be reckoned from the date of Commencement Certificate or approved plan. In your case, without compliance the above the builder had completed flat booking. So the builder has violated the basic principles of the law. The builder has bounden duty to show all legal documents pertaining to your flat and the builder cannot increase carpet area against the approved plan.

C. Unless verified the legal documents that don’t transfer 20% amount to the builder and you can issue notice by way of mail or written letter to avoid the payment by asking a query regarding clinch title and status of project approval.

D. Unstamped paper can be stamped by paying sufficient stamp duty and penalty even after execution of the deed. The builder cannot recover Rs. 75,000/- penalty for you unless established compliance of proper duty and obligation within the purview of the law.

E. You can approach the Consumer Forum under the deficiency in service and unfair trade practice from the builder side and you are entitled to get compensation with respect to the same. And contact local advocate for verification of JDA,GPA, Sharing Agreement and verify the BBMP Approved Plan along with legal documents

1. You can avail the tax benifit only after taking possession of the property,

2. Whatever has been mentioned in the brichure for booking the flats or in the Agreement for Sale has to be complied with by the builder, Any deviation may push the builder before the Consumer Forum,

3.The standard practice is that the builder handsover all the documents including the land owner's title deed, builder's Joint Venture Agreement with the land owner, sanctioned building plan etc. The builder may charge some amount towards photocopying charge. Some builders also charge payment of Rs.5 to 10 k to be refundedif anything wrong is found with the papers,

4. After collecting such documents, the prospective buyers make thorough search from the registry offices and also courts to ensure that the there is no encumbrances on the title of the land and also that there is litigation in connection with the said land,

5. After being satisfied with genuinity of the papers and the projects, prospective buyers enter in to agreement of sale with the builder or land owner, as the case may be,

6. You have grossly deviated from the standard operation practice for buying such properties,

7. If you have agreed to refund Rs. 75 K if you cancel the booking then such agreement paper is valid even if it has not been signed on a stamp paper,

8. However, you can cancell the booking claiming back the entire Rs.75 K if you can prove that booking was made in your name showing that the area 1457 SFT which has been changed to 1496 sqf which you are noot interested in taking.

1. You did not practice due diligence while purchasing the property. When you are buying a property, a due diligence is essential to avoid getting entangled in legal issues later. A flat should never be booked at a pre-launch stage as at this stage the plans have not been scrutinized and sanctioned by the municipal authorities. With respect to an under construction property, you can claim tax benefit in respect of interest on the housing loan availed only once the construction of the property is completed. The interest paid for the period prior to the FY in which the construction of the property is completed shall be deductible in five equal annual installments commencing from the FY in which the construction of the property has been completed.

2. Builder is obligated to honour the promises which he made in the brochure. If he deviates therefrom legal proceedings can be brought against him in a court of law.

3. If the builder has not in in writing acknowledged to deliver the possession by December 2017 he will deny having said so when you go to court.

4. If the agreement does not authorize the builder to increase the area and seek consideration for the increase then you may reject the increase.

5. Not paying the stamp duty does not vitiate the agreement. Since you have agreed to pay the penalty of Rs.75,000 builder will enforce this through court. You have diluted your remedy by agreeing to pay the penalty.

6. You have the right to drag the builder to the consumer forum for deficiency in service and claim the amount of 75,000 paid to him and also compensation.

7. Consult a lawyer personally and show him all the documents to chart out your legal recourse.