Builder cancelling the booking after taking 50%

Please provide more details.

As a customer you should always insist on making a stamped and registered agreement when you purchase immovable property. Only such a stamped and registered document is considered evidence in the court. Why did you make payments upto 50% without such an agreement. Have you got receipts with proper revenue stamps for all the amounts paid and have you paid by cheque?

Even if you go to court, they may not consider the papers that you have as evidence in the absence of a registered agreement. However, you may approach a consumer court with all the papers you have and looking at the circumstances, you are likely to get fair justice.

Also after your case has been resolved by the consumer court, please visit some sites like mouthshut where customers can put their complains against faulty service and products so that other customers are warned and they can learn how to resolve such issues.

Wish you all the best.

S Jadhav

Thanks for the reply.

A registered agreement could not be made since the property is under construction.

I got the provisional allottement letter for the unit and all the receipts (with stamp) for the paid amount.

They are offering me a 12% interest over cancellation so money is secure, but I want my unit not the money.

If I launch a complaint in consumer court then can the builder still cancel the unit or the unit will be on hold ???

I want to prevent unit being trasffered to someone else.

First of all, a registered agreement can be made even if the building is under construction. The builders tell such lies to customers like you so that they can take advantage later. If you have a stamped and registered agreement, then your rights are taken care of and if you dont, you are taking the risk.

The builder is offering you 12% interest as he has to pay higher interest rate to others if he borrows that money and may even be unable to get a loan. Also the property prices would have increased more than what he is offering you and hence he is ready to pay you interest whcih also may just be a promise. So verify the same.

The builder can cancel the unit or put on hold or even offer it to someone else already as he has already told you on phone that "Your unit will not be given to you because of some technical problem". so what choice do you have?

S Jadhav