Stuck Residential Project- Do Not Want To Pay EMI | Vkeel - Free Legal Advice

Vivek

Delhi

I booked an under construction flat in Noida, in 2014. Now, the situation is Builder is not responding, there is no construction work for the last two years, a group of buyers including myself has filed case in NCDRC. Another financial lender to builder has filed an insolvency case in NCLT and now the NCDRC case is on hold NCLT case for liquidation is going on. I am not sure that I would ever get my flat, I have already paid 50% (approx 25L) on this flat through Monthly EMIs (Axis Bank). The builder has already received 95% of the value of flat from the Bank. I am stuck with EMIs and Rent. what are the legal options left for me? I do not want to pay my EMIs now.

Expert's Answers(5)

Advocate Abhimanyu Gurawalia
Patli Hajipur, Haryana

60 Client Ratings

file a case before RERA and a complaint to police for lodging fir

May 27, 2020
Advocate Shubham
New Delhi, Delhi

I need more facts about the situation. Since you have a specific query, a detailed discussion is necessary in order to provide an effective remedy. Better Advice can be given to you only after having a detailed discussion with you, Contact me. Regards Adv. Shubham

May 27, 2020
Advocate Vaibhav Kharbanda
New Delhi, Delhi

4 Client Ratings

you have no option but to approach the consumer forum or rera court to get relief, and if the property value exceed Rs 1 cr. and there are other home buyers with you then you can file a joint case with them and must also implead the bank, if you have paying interest on such property. Contact me, for detailed information.

May 27, 2020
Kishan Retired Judge ( Advocate)
Bengaluru, Karnataka

184 Client Ratings

It is better to implead yourself as a party before NCLT and claim prorate compensation thus settle the issue with bank.Please give me Rank 5 and Review my Resume and Follow me if my answer satisfies you

May 27, 2020
Advocate Srinivas G D
Bengaluru, Karnataka

19 Client Ratings

File a case in RERA Court or Consumer Forum . Contact any Advocate in this Forum

May 27, 2020