To reclaiming our investments
I, as a resident of Hyderabad, invested Rs. 29 lakhs 4000 for a 1710 square feet pre-launch apartment at Shamirpet from the Bhuventaja, Rd Number 2, Nagarjuna Hills, Punjagutta, Hyderabad, Telangana 500082. The builder, with the promise of possession by 2023. Unfortunately, construction halted after the basic work began, indicating the builder's lack of commitment. Alongside over 300 other purchasers, the builder issued cheques upon request for refunds due to non-delivery, these cheques bounced, leading to legal complaints against the builder. Subsequently, all 300 investors, including myself, filed an FIR.
Now that the Builder is in jail, the question arises: what should be our next course of action? With a WhatsApp group and an Association formed to represent our collective interests, I'm torn between pursuing the case as a group or individually. This situation weighs heavily on my family's finances, as their life savings were invested in this project. Trust has been shattered, and the challenge lies in reclaiming our hard-earned money from this deceitful Builder, despite prior complaints.
I seek guidance on the best approach to reclaiming our investments and navigating this difficult situation effectively.