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Home > Forum > Mumbai > Legal > construction of project have not started yet since feb 2013

construction of project have not started yet since feb 2013

Q: want to reason for delay

delay in possession
delay in completion
buying properties in mira road
flats for sale in mira road
apartments for sale in mira road
tanvi eminence ph-2
residential project in mira road mumbai
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Mumbai Legal Legal in Mumbai
Replies (4)
1
Hi Rajesh,
Which project and the developer are you talking about? Can you name the project and its locality so that i can give you the appropriate answer.
Praveen Modi


2
In delay possession, builder is liable to pay the interest can range between 9-18%. Also, the interest is payable only on the amount that be proven as paid to the developer.

One can fight the case in a consumer court without hiring a lawyer, if the evidence is strong and can be proven.
Shantanu Kumar


3
In case of delay of possession, you can claim a refund along with interest. You should first check if your builder is a part of The Confederation of Real Estate Developers Associations of India (CREDAI) or something similar. They usually have a Code of Conduct by which they solve most disputes. If it doesnt work then you should go to the relevant Consumer Court.
Shantanu Kumar


4
A delay in giving possession can be due to various reasons such as pending municipal approvals or some dispute. Or if property prices are rising, the developer may deliberately not give possession in the hope of making buyers pay more even if the agreement has been signed at older rates. This will not reflect in the sale agreement.

Delays can also happen if the developer is out of funds, or the bank is not ready to finance his project.
Shantanu Kumar


5

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