Legal Question in Real Estate Law in India

Builder Cancelling the Booking

I have booked a flat in Purva Highlands in Bangalore. The Project is delayed by more than a year. The Bank(IDBI) has stoped the payment stating the current value of the Property is 13L and they have already made a payement of 20L till now.

The Builder is now asking for 6 lacs which got due on me due the stopped payment. If i dont make that payment builder will cancel my booking and deduct 15% of the Payment made till now and the rest will be returned only when that flat is sold.

I want to know:

1. What are the course of action i can take to protect my investment.

2. if the bank does not make the payment and builder cancelling the booking will i be still liable to return the money paid by the bank to purva. Or th bank will get that money from the Builder.


Asked on 6/04/09, 9:10 am

3 Answers from Attorneys
RAMAN KUMAR BHARDWAJ R.K. BHARDWAJ & ASSOCIATES

Re: Builder Cancelling the Booking

just go through the agreeemnt which you have entered with the builder, if the deficiency is on the part of the builder, you can sue him in the consumer courts.

i would suggest you should consult a local lawyer

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Answered on 6/04/09, 10:33 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Builder Cancelling the Booking

You may want to engage an Advocate for pursuing your remedy in appropriate proceedings.

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Answered on 6/04/09, 10:40 pm
Shrichand Nahar S.V.Nahar, Advocate

Re: Builder Cancelling the Booking

Check the terms of agreement with provisions of law governing such agreement.

Bank will held borrower and guarantors liable for repayment of loan.

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Answered on 6/05/09, 2:15 am


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