FAQ: How to get assurance of compensation? – Property Hotline

Expert: Uday Wavikar, Vice President, Consumer Court Bar Association Maharashtra & Goa

Question: Booked a 2 BHK in Mantri Celestia, Hyderabad in 2011 and have paid nearly Rs. 40 lakh. Possession was expected in 2013, but construction is still on. When I approached the builder to seek compensation for the delay, he is offering Rs. 3/sq ft instead of Rs. 5/sq ft. Additionally, the builder said the remainder of the compensation will be settled only after the registration. I am paying an EMI of Rs. 35,000 every month. They are promising possession by June 2016, but I'm doubtful. How can I get assurance of compensation? Also, can the compensation be reduced against the remainder of dues owed to the builder?

Answer: For the reduced rate of area and compensation, you enter into an agreement with builder and get the agreement registered at the cost of builder. So, you could claim compensation in case builder makes any default. If the builder is making default, you can file consumer complaint before the Consumer forum. Now also, if you don't want any compromise with the builder and then directly you can file consumer complaint.