Improper loan disbursal & flat construction delay

You can file a complaint to the banking ombudsman and you are likely to win it since the banks are not permitted to release funds without the knowledge of the account holder.

You can also approach the Consumer Court at the same time as it will give you faster result.

Please do not buy under construction property if you can as in the absence of any regulator, the builder has almost absolute power over the project and you cannot do much except maybe get refund of your money  or some minor penalty levied on the builder (which are too small as compared to the flat purchase amounts.)

Even the banks will listen to builders as they are richer and more powerful which in India is more respected.

S Jadhav

Sir,  

Can I file a suit against the builder for the non completion of building in the stipulated time?  The agreed time was 24 months and that was expired since Dec 2009.  The builder is not completing the project.  

Can I file a case to consumer protection for the non compliance by the builder and to claim the losses suffered during the 2.5 years delay now??? Can explain more about this??

Yes you can file a suit but it takes  mores time and money for the legal work.

As suggested please act on two platforms

1. Approach the banking ombudsman and

2. File a consumer complain in the Consumer Court

Do remember that you should mention what remedy you are seeking e.g. you may want the builder to complete the building and handover the possession to you as per the agreement and also the damages amount as you could not use the flat in time and hence may have had to pay rent, etc. You could also ask for refund of the monies instead of the flat. It is your wish but my advise would be to take the flatas its price would have gone up considerably.

S Jadhav