Dear Legal Friends,
I entered into an agreement with a builder for a house. The house was delayed by two years. The agreement has a clause about compensation offered by the builder in case of delays, which obviously is not adequate by any standards
I intend to approach Consumer court to claim compensation resulting from loss of revenue as the house was bought as a long term investment for tax purposes, and giving out on rent.
I have the following questions :
1. I read on the core.nic.in site that if the product is bought for biz purposes, the consumer court cannot be approached because it is for end user / consumer only. Since I bought the flat for investment / rental purpose, does this disqualify me from approaching the consumer court?
2. I have tried to reason with the builder about the loss suffered, and they are adamant about sticking to the compensation clause in the agreement, so there is no way to avoid litigation. What is the approximate time period and expenditure required to arrive at a conclusion if the civil court is approached? The builder
Thanks in advance.