August 31, 2016
37
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4:02Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: I bought an apartment in Mumbai during the pre-launch phase. I paid Rs80 lakhs with my funds and took Rs1 crore as loan. The loan was approved, but the builder refused to make a sale agreement and register it. We decided to cancel the booking. The builder says he will deduct TDS unlawfully and pay it when he sells the flat to another buyer. I have paid the entire amount by cheque. What do I do?
Answer: Under section 4 of the Maharashtra Ownership flats Act, the builder is liable to execute and register the agreement before accepting any money from you. You must demand your refund via a notice and in case he refuses, you can take him to consumer forum and demand interest and compensation.
Be Un Confused
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