Refund by the builder
vivek Vats
(Querist) 02 February 2013
This query is : Resolved
I have booked a property in November 2011 with a builder in Mumbai by paying the amount by cheque through my bank.At the time of booking the builder said that the project will start in end of December.Now after more than one year nothing has come up and now he is returning my money back with a rate of 9% just for 180 days on the amount i have paid to them.They are saying that they are going in some legal issues with the existing society and they don't know how long is it going to take time so they are returning the money back.Even they are not promising us the booking in case they start it later .As the prices have increased in the vicinity in last one year its a big loss of time and money for us.As we have booked the property after doing a lot of search but now they even dont want to pay us for the losses.If i want a 9% of return i will just put it in a bank deposit no need to gave to the builder.Want to know what are the legal options do i have.Thanks.
R.K Nanda
(Expert) 02 February 2013
send legal notice to builder and claim interest @ 18% p.a.on ur given amount and also claim damages.
u r fortunate that builder is returning ur
money.
ajay sethi
(Expert) 02 February 2013
you are very fortunate that builder is refunding your money with interest . grab the offer . take refund with 9%interest .
was any agreement entered into with builder? what is provision in agreement relating to interest ?if agreement provides for 18%then you have some case .
if you move consumer forum you will have to spend money on legal fees and waste lots of time in running around courts .
Raj Kumar Makkad
(Expert) 13 February 2013
I do endorse the views of the experts.
