Comments
In case a developer defaults, the lender would first start proceedings known as symbolic possession
Reply
The drill is that the lender would stick a notice on the project informing the public about the default
Consumer Protection Act gives end consumers certain rights against exploitation. A consumer can take help of this Act for claiming compensation in case of project delays
The builder is liable to refund the amount paid with interest (for the period of delay) if there has been a breach of contract.
If a person is buying an apartment for personal use, the buyer can file a case in the consumer dispute redressal commission at the district, state and national level, depending on the property value or amount of damage suffered.
In case of delays, the customer is entitled to a refund along with interest and compensation from the builder
The builder can neither extend the date of possession unilaterally nor insist on allocating an alternate property to escape refund
A consumer or the property buyer must file his/her complaint within two years of the dispute arising, after which it becomes outdated
A written complaint can be filed before the District/State/National Consumer Forum depending on the expected amount of damage
Builder’s problems can’t justify delay and for this he is liable to pay a penalty and compensation. Default would attract penalty under both Consumer Protection Act and the Flat Act
27%
Complaints
56
Pending
0
Resolved
15
#19, Jubilee Homes, TVS - Rayakotta, Krishnagiri Dt(T.N), Hosur, Tamil Nadu, India - 635110