I had taken a flat in the project Park Floors II with the flat # T24 – 202 in Sector 76, Faridabad, Haryana with the builder BPTP Ltd in the year 2009. The basic sale price of the unit is 23, 80, 000 and I had paid 4 lakhs at the time of booking. I had immediately applies for a housing loan with LICHFL immediately for the remaining amount and also provided the sanction letter to the builder. Based on that a tripartite agreement was also signed. But for the past 2 years the construction was delayed due to various reasons and during this period I have regularly followed up with the builder through email asking them about the construction status and have been told to wait for bank disbursement.
In June i got a final opportunity letter from BPTP telling me to pay 14 Lakhs within 15 days else my unit would be cancelled. I was out of the country when i recieved that intimation and asked them to wait till I return. Post returning to India I re-applied for loan in LICHFL but due to some mismanagement from LICHFL my FI (First Investigation) report was pending for more than a month. On calling up BPTP I have been told that my Unit in Park Floors II with the flat # T24 – 202 in Sector 76, Faridabad, Haryana with the builder BPTP Ltd, has been cancelled and the builder tells me that the only option I have is 1.do a fresh booking in another project of the company (In this case brokerage charges would be deducted and I will have to pay the latest prices of the units, which is out of my affordability)
2.Or else forfeit my earnest money as cancellation.
Please note that this is NOT acceptable to me under any circumstance. I have been communicating with BPTP all through the year and had also provided the loan sanction letter from LICHFL which got invalidated as BPTP was not ready with the construction stage. The only response I got was to wait till the construction reaches a particular stage and suddenly I got an email in June saying that if I do not pay 14Lacs in 15 days my unit would be cancelled. I have been communicating henceforth that I have to re-apply for loan from LICHFL as my earlier sanction letter has expired validity and the bank process takes time and also that I’m out of the country when I received the demand letter from BPTP and hence need time till end of June to complete formalities. I had immediately re-applied but due to some issues out of my control the banks have still not sanctioned the loan. I’m attaching all my communications in this regard. I do not wish to do a fresh booking as my intention to buy in BPTP park floors II so early was to avail the low prices within my affordability.
How do I recieve refund of my full money or revive my allotment in the same unit at the purchased price? If builder resists, what legal recourse do I have?
Thanks
Babith
0 comments