Dear Experts,
I bought a site in Bangalore,constructed a house and sold it to an individual who is from Delhi. He got the property registered on his name before the construction work got completed and so upon registration we got into an MoU for the release of balance amount. The work is almost completed (98%) before the end of the time period mentioned in the MoU and the same was informed to the buyer for release of payment. The balance amount is Rs.4.83 lacs. The buyer brought an external engineer who inspected the amount of work completed and he certified that another Rs.75000/- worth of work is pending.
I asked the buyer to release an amount of 4 lacs from 4.83 lacs stating that I do not have money to complete the pending work whereas he is not ready to settle the amount now. Infact I asked him to hold on the balance amount of 83000 until final completion of the house.
Pls suggest the ways for me to recover the money from the buyer. Kindly help me out of this.
Regards,
Vishal
