I bought a flat in Wave City Centre, Noida, for around ₹30 lakhs three years ago. The construction is painfully slow and looks like it’ll take another five years to finish. I’m losing interest in the project and the builder. Is there a simple way to get my money back with interest? Is there a specific law in the Indian Penal Code I can use in this situation? Please help!

Apni Law
Apni Law
Law Forum › Category: Consumer Court › I bought a flat in Wave City Centre, Noida, for around ₹30 lakhs three years ago. The construction is painfully slow and looks like it’ll take another five years to finish. I’m losing interest in the project and the builder. Is there a simple way to get my money back with interest? Is there a specific law in the Indian Penal Code I can use in this situation? Please help!
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Apni Law Staff asked 2 years ago

I bought a flat in Wave City Centre, Noida, for around ₹30 lakhs three years ago. The construction is painfully slow and looks like it’ll take another five years to finish. I’m losing interest in the project and the builder. Is there a simple way to get my money back with interest? Is there a specific law in the Indian Penal Code I can use in this situation? Please help!

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Apni Law Staff answered 2 years ago

Indian law provides remedies for delayed construction projects. You can file a complaint with the Real Estate Regulatory Authority (RERA) seeking refund with interest, as per the RERA Act, 2016. There is no specific provision in the Indian Penal Code addressing this issue, but delays exceeding a certain period may be considered a breach of contract, leading to legal action.

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