Important Things to do Right Away If your Home Possession is Delayed

Buying a home needs a big investment and methodical decision. When a buyer invests his or her money in buying new residential flats and doesn’t get the possession of his/her home on time, the buyer not only fails to get a safe shelter but also ends up losing his hard-earned money. In case, you are living in a rented flat, you have to pay both the rent of that flat as well as the monthly EMIs for the loan that you have taken to buy a new flat. The delay in possession can cause a major strain on buyer’s finances and trap them in a cyclic debt. If you have invested in any property and you failed to get possession of your property on time, you can resort to several options:

Compensation is your right:

 In case, property builder doesn’t give the possession of your home on time, you have the right to ask for compensation. This is something you should not overlook if your possession of home has been delayed for a very long period of time.

Legal Remedies:

 Every buyer has a right to file a consumer complaint on the grounds of paucity in service, as it has been stated In the CPA (Consumer Protection Act), 1986. In case, you have invested above 20 Lakh, you can directly file your complaint before the state commission, but if it is over 1 crore, you can file your complaint before the National commission in New Delhi. In addition to this, if you have invested below than 20 lakh you can file your complaint before the district commission.

Get Refunds:

 When your builder is refusing to give the possession of your home on time, you can directly go to the civil court and file your case for a refund against the property builder. But if you have forgotten to add the refund clause in your contract at the time of buying of your home. No need to get worried. You can go to the consumer court and ask for a suitable option.

Don’t Act Before Notifying:

Before you take any action against your builder try to send him or her a legal notice. In this way, you are giving him time to respond. Once you sent your notice, the builder has to take necessary actions to fulfill your requirements.

In case, you face such type of situations, it is always better to have deep knowledge of law, best builder like Karia Developers in Pune and more. So, try to be smart and aware. 

Top Property Developers in Pune

References:

https://housing.com/news/is-your-property-possession-delayed-heres-what-you-can-do/

http://www.business-standard.com/article/pf/if-your-flat-possession-is-delayed-113082901227_1.html