Dear Experts,
I would like to have your suggetion to deal with my builder who has defaulted and shows no intention to refund money easily. brief of the case given below
1) I booked a 4 BHK apartment in July 2009, with Pal Infrastructure Gurgaon in their Neillia floor project, sector 95 Gurgaon.
2) I paid intial 25% , Rs 419000 including booking amount to the builder and got the allotment and BBA signed. I have all the duly signed recipt of same. rest of the payment was agreed through bank loan
4) Their construction stopped almost two year back, and no Bank loan process started till date, probably due to some non approval and stop of construction work.
3) They agreed to give posession within 18 months with a penalty clause of Rs 10/ sq fit in case of default. same is mentioned in BBA doc as well. Now ther is no sign of constrction restart or posession in near future, but they are not paying any penaulty.
4) recently when I enquired about it they are saying they have tied up with another builder (SKM builder) and now onwards they will construct there and deliver the project. for me said to wait either 2-3 more yrs or switch to their another project in faridabad
5) when I asked for cancellation and refund they said process would take at least 6 months with some deductions. I wonder instaed of paying penalty/ intrest on my capital amount they are talking about deduction that too after 6 month
7) when I spoke with new builder (SKM) they said they have purchased Pal infra lad outright and they will launch their own project in that land, when I asked about existing customer like me they said to me check with Pal group as they dont have any liability for me
I am really confused and stck here and feared of my capital inestment loss here, please advise what all action I can take to get my hard earned money back from builder, and if possible i would like claim the penalty as well for default and mental harrasment.
Regards
Sunil Srivastava
9958167184
