Homebuyer's Claim When Builder Files Insolvency | Vkeel - Free Legal Advice

Kailash Sreenivasan

Chennai

Bought a plot for premium price (almost thrice of local price) within a township layout. The builder did not deliver any of the promises like security, the advertised clubhouse and even proper roads. Now he has affixed insolvency notice on the premises. Can I file a claim for the exorbitant money that I paid for my land as I am denied of the promised standard of living for which I paid the extra money for?

Expert's Answers(2)

Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

It is not that easy to go for Insolvency All of you immediately file complaint before Consumer Court or Under RERA. It will give you appropriate relief. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

March 21, 2021
Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Hi, File a complaint for cheating and fraud against the builders under Sections 415 and 420 IPC. You can file a civil money recovery suit against the company, but as they have declared insolvency, you will have to contact the insolvency resolution professionals under the Insolvency and Bankruptcy Code. If you found this helpful, please rate us.

March 18, 2021