I have booked flat in Orchid springs at Korattur on Nov’10. The construction agreement and sale deed was made on Nov’10. Total cost of the construction is Rs 33 lakhs. A payment of Rs 1.5 lakhs cheque no 258121 dt 08/11/10 was done at the time of booking. One more payment of Rs 16, 37, 760 Cheque no 258122 dt 09/12/10 was done to Alliance towards construction from my savings. I was promised by their Marketing person that registration will be done in Mar’11.
Due letter was intimated by Alliance regarding additional payment of Rs 1, 48, 960, incidental charges of Rs 33752 and service tax of Rs 69530 towards foundation completion. I have met CRM of Orchid springs for cancellation of my flat as I am in need of my money and also the registration of the construction agreement was not done as promised by their sales team. CRM has said that the cancellation will attract a penalty of 15% of total cost instead I can go for home loan where I will get my earlier payed amount refunded. Sr. Finance Manager also promised me that the remaining amount will be refunded to me once I get first payment from Home loan. They have asked me to go to Tata capital for processing my home loan. Tata capital sanctioned loan for 80% of Total cost. Tata capital has released Rs 7, 46, 940 cheque no 008689 and 008691 dt 30th Aug’11 to Alliance financiers. And Tata capital has refunded Rs 7, 66, 000 to me directly. Already 25 lakhs (1.5 16.37 7.46) was paid to Alliance which is more by 5 lakhs than the slab payment of 20.5 lakhs for Foundation completion. The remaining amount (1.5 16.37-7.66 – 6.6 (My contribution - 20%)) was not refunded to me by Alliance, When I approached them they are declining to refund that and says that amount will be shown as credit for remaining slab payment. While the further payment will be released by Tata capital and not from my pocket, there is no reason to hold my money paid from my savings.
Please help me how could I get my remaining amount as refund immediately?
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