My family invested in an assured return property three years ago. We received the promised returns until December, but haven’t seen anything since. The builder assures us they’ll pay for January and February in March. While we’re worried about the missing returns, our biggest concern is about the property itself and whether we’ll actually receive it on time. We’re afraid the builder might run away or cancel the project. What legal options do we have? Are there any government regulations to protect us in this situation?

Apni Law
Apni Law
Law Forum › Category: Property › My family invested in an assured return property three years ago. We received the promised returns until December, but haven’t seen anything since. The builder assures us they’ll pay for January and February in March. While we’re worried about the missing returns, our biggest concern is about the property itself and whether we’ll actually receive it on time. We’re afraid the builder might run away or cancel the project. What legal options do we have? Are there any government regulations to protect us in this situation?
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Apni Law Staff asked 3 years ago

My family invested in an assured return property three years ago. We received the promised returns until December, but haven’t seen anything since. The builder assures us they’ll pay for January and February in March. While we’re worried about the missing returns, our biggest concern is about the property itself and whether we’ll actually receive it on time. We’re afraid the builder might run away or cancel the project. What legal options do we have? Are there any government regulations to protect us in this situation?

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Apni Law Staff answered 3 years ago

Indian law provides you with legal recourse. You can file a complaint with the Real Estate Regulatory Authority (RERA) against the builder for delayed payments and potential project cancellation. RERA ensures timely completion of projects and protects buyers’ interests through regulations and dispute resolution mechanisms.

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