My family and I booked a flat in an E8 Extension, Arera Colony project 6 years ago. The builder promised delivery of our flats in four buildings, but now they’re saying they can’t finish them due to a NGT ruling about a nearby river. We’re worried because two of the buildings are almost complete, but the builder claims they’re broke. We’re stuck paying pre-EMI with no end in sight. Even HDFC Bank, who approved our loans after inspecting the property, won’t help. We’re desperate for a solution. What can we do?

Apni Law
Apni Law
Law Forum › Category: Property › My family and I booked a flat in an E8 Extension, Arera Colony project 6 years ago. The builder promised delivery of our flats in four buildings, but now they’re saying they can’t finish them due to a NGT ruling about a nearby river. We’re worried because two of the buildings are almost complete, but the builder claims they’re broke. We’re stuck paying pre-EMI with no end in sight. Even HDFC Bank, who approved our loans after inspecting the property, won’t help. We’re desperate for a solution. What can we do?
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Apni Law Staff asked 7 months ago

My family and I booked a flat in an E8 Extension, Arera Colony project 6 years ago. The builder promised delivery of our flats in four buildings, but now they’re saying they can’t finish them due to a NGT ruling about a nearby river. We’re worried because two of the buildings are almost complete, but the builder claims they’re broke. We’re stuck paying pre-EMI with no end in sight. Even HDFC Bank, who approved our loans after inspecting the property, won’t help. We’re desperate for a solution. What can we do?

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Best Answer

Apni Law Staff answered 7 months ago

You have legal recourse under the Real Estate (Regulation and Development) Act, 2016 (RERA). You can file a complaint with the RERA authority against the builder for delayed possession and breach of contract. You can also explore legal options like a consumer forum complaint or civil litigation to seek compensation and/or refund of your investment.

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