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Author Topic: How to take Money back from the builder/developer  (Read 540 times)

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Offline sher singh

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How to take Money back from the builder/developer
« on: July 04, 2016, 08:26:31 AM »
Hi,
 I had invested my money in a residential project in Raj Nagar Extension. The builder said that they'll hand me over the house in 2016. Its 2016 already and they have not even completed the digging yet. I want to take my money out of the project as soon as possible. Please help me out. I have the Builder Buyer agreement with me, but it has no date mentioned in it and moreover, it has no company stamp on it. How do I work my way out of it. Please help. I am visiting them tommorrow to talk about exiting the project. I also want interest on my money. Is that possible ?

Offline adv.amarnath

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Re: How to take Money back from the builder/developer
« Reply #1 on: July 04, 2016, 11:17:36 AM »
On the basis of your statement, I would like to say that without going through each and every single page why you have signed the agreement and paid a certain earnest money?

In this situation you have to send a notice to the developer asking him to return back your earnest money within 10 days with interest failing which you will bring a consumer case against him. This is the best option you have. Please try to avoid words or terms like investment/ profits/ business purpose, etc etc. This will disqualify you from being consumer. Don't be hurry in this situation. You have 2 years in the eye of law for filing case.

You will get compensation, litigation cost, interest in addition to your earnest money if you handle this matter tactfully.

For further clarifications and consultations in details, you can contact me.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline sher singh

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Re: How to take Money back from the builder/developer
« Reply #2 on: July 05, 2016, 06:39:14 PM »
OK.
What do you mean when you say 'You have 2 years in the eye of law for filing case.'
I asked them for filling the form completely. But they said that the dates are to be filled at the time of completion. I was buying for the first time, so Didn't know anything.
Thanks for your help.
One more question. How long can it take to get my money back ?

Offline adv.amarnath

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Re: How to take Money back from the builder/developer
« Reply #3 on: July 05, 2016, 11:05:52 PM »
It is a limitation period and it cannot be said how long you will get back your earnest money. It varies from forum to forum but definitely you will get it back more faster than civil court
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline sher singh

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Re: How to take Money back from the builder/developer
« Reply #4 on: July 09, 2016, 10:21:01 PM »
Hi,

I went to the guys and asked for my refund. I filed the cancellation form for the flat as well. They asked me to submit all the payment aknowledments in original but I refused, as they are my proofs. They are saying that It can take upto 4 months to get my money back. Is that alright?

Offline sher singh

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Re: How to take Money back from the builder/developer
« Reply #5 on: July 09, 2016, 10:22:31 PM »
Also, They're saying that they won't refund my money with interest as their company doesn't do so. Infact they'll deduct some amount from my payment as administration charges.  >:(

Offline adv.amarnath

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Re: How to take Money back from the builder/developer
« Reply #6 on: July 10, 2016, 04:20:59 AM »
Absolutely bullshit !! Developer is trying to full you. If you have signed and submitted cancellation form without knowing the term and conditions then you have to take necessary steps for your blunder acts. Further it is not possible for me to reply you all procedure under this open forum due to my professional secrets and tactics.

You can contact me for consultation in details. It is very suggested to litigants to take each steps carefully otherwise in long run you make face adverse situation for minor mistake.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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