LEGAL OPTIONS AGAINST BUILDER
I purchased a Virtual space in a commercial property in Noida and as per agreement I was to receive 11% assured return on monthly basis. I received the assured return for two years but since April 2015 they stopped paying and they are not giving any time/date by when they will resume the payment. Also there is no sign of development at project construction site. On request of refund they are saying they don't have money and they are in contact with private financiers and banks to fund the project. They always insists on converting assured return with additional space with new set of terms of conditions. Kindly suggest all legal or any options that I have....thanks more
Viewed by 471
View all 23 comments Below 23 comments
IS THE AGREEMENT IS VERBAL,NO QUESTION TO RETURN THE MONEY.SO IT IS BETTER TO GET ALSO THE INTEREST.IF THE CONTRACT WAS MADE,THEN THE ANSWER MAY BE GIVEN.IT IS CALLED MISFORTUNE.SUPERVENIG IMPOSSIBILITY. more
Jul 20
File suit for specific performance of contract....u will get the amount with interest... more
Jul 13
Mr. sanjeev The assurance by builder is misleading and unfair trade practice under section 2(r) of consumer Protection Act. Please let know the amount paid by you and what documents have you in your possession executed by developer. To get refund with interest @ 12% you must file case before District consumer forum if value is upto 20lacs, If value is upto 1 Cr then file before the state commission, If value is more than 1 cr then before National Commission. You can file case before National commission for unfair trade practice irrespective of value. You may contact me. Prithvi Raj Sikka Advocate Managing Partner LAW JURISlawjuris09@gmail.com 9811054562 more
Jul 11
