We booked office space in Gurgaon, part of a larger project including retail, offices, and a luxury hotel. The project is delayed, and though we received compensation, it’s not enough. The project isn’t fully functional, just partially built, and they pressured us to take possession. We did, to protect our investment, but can’t lease because the rest of the project isn’t ready. Can we demand more compensation? We signed an indemnity bond, but wrote in a letter that we took possession under protest. What should we do?
Best Answer
You can explore seeking further compensation by highlighting the incomplete project and the inability to lease due to its non-functional state, despite taking possession under protest. The indemnity bond you signed may limit your options, but the “under protest” clause can be used to argue you accepted possession reluctantly and still seek redress for delays and shortcomings. Consult a lawyer specializing in real estate and contract law to assess your specific situation and legal options.
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