How To Recover Money From A Bangalore Builder Who Failed To Deliver, Without Harming The Builder?
By Unregistered Visitors, Section Ask Questions
Posted on Sat Mar 12, 2005 at 09:49:37 PM EST
Question: Six of us booked flats from a builder in Bangalore paying full value.
The builder did not complete the project, citing financial problems and pleaded for a refundable interest-free advance of Rs.1.5 lakhs extra from each of us for 18 months, offering a property as security.
- We got basic amenities like water, power and drainage done by us with this money.
- Lift and other works are pending completion.
Subsequently, he offered another property in some other locality and executed a sale deed with all of us.
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Though more than three years have passed from the date of initial extra advance, the builder is yet to repay the loan. Nor does he come forward to register the property given as security.
Our aim is not to harm the builder who suffered loss on another project that failed to take off. Please suggest alternate steps to recover our money.
Raman Delhi