Loan Repayment failure to the Builder
3 years ago
As assured by the builder to pay my pre emi until the possession of the home under the subvention scheme act, as by Rera revoked the subvention scheme, now the builder asked me to pay the heavy emi instead they paying to the bank on my Behalf. As now I did not pay the emi to the bank as long as I get the payment from the builder and also the property is under construction stage. What’s the step ahead do I need to focus upon? What should I be more worries about.?
You may get issue a legal notice and approach either RERA or Consumer Forum.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
You can approach either the Consumer Court or the Real Estate Regulatory Authority.
You can approach either the Consumer Court or the Real Estate Regulatory Authority.
Ankur Goel @ Complete Law Shield
Responded 3 years ago
builders sold at more rates showing pre-emi will be paid by them.
The builders adds the interest to be paid by him to the cost of the house because nothing is free.
In fact, in many projects, developers offer separate rates for the same apartment to homebuyers who opt for a subvention scheme and those who don’t.
now you are in fix.
it is better to cancel the flat and take money back.
you can definitely approach rera which already ruled against builders.
Hope this clarifies,
Advocate Ankur Goel (Complete Law Shield)
#YourLifeYourChoice
Jagannath S Pawar
Responded 3 years ago
sanjay panda
Responded 3 years ago
Issue notice to builder mentioning your fact and mark a copy to your bank.
If not resolved take help of consumer court.
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