Commercial shop delayed .
In the year 2013 I had invested on 2 commercial spaces in an upcoming mall in Udupi,Karnataka. Had paid 75 lac in total to the builder. He had promised to give both spaces in the year 2014. But for some issues between the builder and the land owner the construction has stopped. Out of 75 lac paid , 45 lacs I've taken loan against my home mortgage. My husband now is jobless & we are finding it difficult to repay the loan. Have spoken to both the builder & owner to return our money but blame game is going on between both the parties. .Many among our relatives are advising us not to take this matter to the court as it will be a lengthy process. Can someone pls advice what should we do? more
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Send them a Notice stating that if they do not listen to your requirements you will file multiple case One to Rera and one to the Consumer Court ,you will get immediate attention by the opposite parties. more
May 02
Thank you all so much for your suggestions and advice. I'm planning to meet both the parties in the next week personally and urge them to take decisions regarding the issue and sort it asap. Keeping my fingers crossed . Want to settle the matter out of court. more
Apr 29
RERA is the best suggestion above. Trust they R active. Is Your banker n his banker common - this could help Society's pressure on the Builder to return the Loan Money with interest to secure your funds at the least till they see brighter days. Property prices would be beneficial today However, U have to C the best solution God Bless more
Apr 26
Thank you so much for your concern. I'm not sure whether the builder has registered his company in RERA or not.. Have to check. more
Apr 30
It appears you are not interest in resolving the issue in the courtroom. Then only option is to settle the matter by negotiation. But I apprehend that possibility of settlement by negotiation is bleak. If you have sufficient documents in your favour , then only option to file legal suit for recovery of your payment. Prior to file application , consult local advocate expert in civil matters showing your documents which will substantiate your case. As the legal action may drag the issue long time try your best to settle the issue by negotiation through common friends/ well wishers of all concerned of the issue as you are urgent need. If it fails then ,then no option but to move to court. I also advice you not to engage third party to apply force. more
Apr 24
