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Real Estate Forum on Compensation

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Q: Discuss on the news about the DLF being asked to pay a high amount of fine by the Competition Appellate Tribunal (Compat)..
Latest Answer: yeah , The owners association is quite happy and satisfied that the fine has been upheld and said that the verdict will restore the balance between the real estate developers and property buyers.
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Q: Builder is demanding last 10% installment even though neither the building nor flat has been completed. Additionally get repeated calls harassing asking for payment and threatining to cancel agreement. builder has sent possesion letter. Send a letter in reply no response. Also my contract mentions monthly compensation of posession is delayed. Builder not ready to honor that. Singla builders is the worst builder behaving more like gundas out to grab money than fulfilling commitment towards customer.. wht t do nxt
Latest Answer: Hi Sukhdev, Is your agreement based on construction or time link. if it is construction link and the project is getting delay then builder will pay you after the said part of completion or if it time based agreement then will you the compensation amount on time delivery. Is it mention on your agreement that builder will pay you if there is delay in possession. Then you should take the legal step and if it is not mention in your then it is very difficult to get the compensation amount. You must read the agreement paper and then talked to the developer.
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Q: What is the reason that the builders are asked to give compensation to the farmers in Greater Noida?
Latest Answer: According to sources, in a meeting with developers Greater Noida authority passed an order that the builders have to pay an extra amount per sq mt. But the norms will come into action only after the board meeting.
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