My Gujarati family invested ₹15 lakh in a property under construction in 2010. The builder vanished without completing the building, despite our allotment letter promising a refund with 24% annual interest if the project wasn’t finished within two years. A new builder is offering only an extra ₹6 lakh along with our principal. What should we do?

Apni Law
Apni Law
Law Forum › Category: Consumer Court › My Gujarati family invested ₹15 lakh in a property under construction in 2010. The builder vanished without completing the building, despite our allotment letter promising a refund with 24% annual interest if the project wasn’t finished within two years. A new builder is offering only an extra ₹6 lakh along with our principal. What should we do?
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Apni Law Staff asked 1 year ago

My Gujarati family invested ₹15 lakh in a property under construction in 2010. The builder vanished without completing the building, despite our allotment letter promising a refund with 24% annual interest if the project wasn’t finished within two years. A new builder is offering only an extra ₹6 lakh along with our principal. What should we do?

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Best Answer

Apni Law Staff answered 1 year ago

You should approach the consumer forum to seek the promised refund with 24% annual interest. Additionally, you can pursue legal action against the original builder for cheating and breach of contract. The new builder’s offer is not legally binding, and you are not obligated to accept it.

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