Dear Rera Expert, What to do as the builder does not refund the money? He does not take Maharera orders seriously? Kindly advise

Ans: This seems like a legal dispute and I would suggest you reach out to a lawyer for the same.

Ans: In such a situation, you can take the following steps to enforce the RERA judgment and get your money refunded with interest:

Legal Action: Since the builder hasn't complied with the RERA judgment, you can initiate legal proceedings to enforce the judgment. Consult with a lawyer who specializes in property and RERA cases to guide you through the legal process.

Enforcement of Order: File an execution petition with the RERA authority to enforce the judgment. Provide all necessary documents, including the RERA judgment and communication with the builder, to support your case.

Consumer Court: Consider filing a complaint with the consumer court for deficiency in service and unfair trade practices. The consumer court can also order the builder to refund your money with interest and compensation for the delay.

Police Complaint: If necessary, file a police complaint against the builder for non-compliance with the RERA judgment. Keep all communication and documentation ready as evidence.

Public Grievance: Raise a public grievance against the builder through RERA's online portal or other relevant platforms to bring attention to your case.

Consult with RERA: Keep the RERA authority informed about the builder's non-compliance and seek their guidance on further action.

Remember to document all communication, legal proceedings, and actions taken to support your case. It's crucial to stay persistent and proactive in pursuing your refund with interest from the builder.

Ans: I understand your frustration with the current situation. You've faced delays and complications with your home loan process and the builder's compliance with project requirements. Let's break down your options and potential solutions.

Issue Breakdown
Delays in Loan Processing:

Your initial loan sanction letter from Axis Bank is now over six months old, requiring reprocessing.
You've already paid processing fees and opened an account as instructed.
Builder Delays:

The builder has not submitted necessary documents since March.
The project is only sanctioned up to 10 floors, with pending approval for additional floors.
Options and Steps to Take
Reprocess the Loan Application
Contact the Bank:

Explain your situation to the bank manager and request a waiver or discount on the processing fee for reapplication. Highlight that the delays were not due to your actions.
Documentation:

Gather all required documents for reprocessing. Ensure all your paperwork, including the builder's documents, is complete and up-to-date.
Loan Re-approval:

Follow the bank's instructions for reprocessing. This includes verification and submission of all necessary documents.
Address Builder Issues
Communicate with the Builder:

Set up a formal meeting with the builder. Demand a clear timeline for submitting the required documents.
Request written confirmation of the current status of project approvals, especially regarding the floors beyond the 10th.
RERA Complaint:

Since the builder is RERA-registered, you have the right to file a complaint with the Real Estate Regulatory Authority (RERA). This can expedite the builder's compliance.
Visit the RERA website for your state, and follow the procedure to lodge a complaint. Provide all relevant documents and communications.
Legal Consultation:

Consider consulting a legal expert specializing in real estate. They can provide advice on how to proceed if the builder continues to delay.
Evaluating the Builder's Project
Project Approval Status:

Verify the approval status of the builder's project. Ensure that the current approval includes your flat and that future approvals for additional floors are likely.
Alternative Projects:

If the builder's project approval is uncertain, consider looking at alternative projects. Ensure these projects have all necessary approvals in place.
Negotiating with the Bank
Processing Fees:

Negotiate with Axis Bank for a reduction or waiver of the processing fees due to the builder’s delays. Provide evidence of your timely actions and the builder's delays.
Account Status:

Confirm the status of the account you opened as per the bank’s referral. Ensure it meets the requirements for the loan application.
Practical Tips
Documentation:

Keep a detailed record of all communications with the bank and the builder. This includes emails, letters, and meeting notes.
Follow-up:

Regularly follow up with both the bank and the builder. Persistence is key in ensuring timely action.
Patience and Persistence:

The process may be lengthy and frustrating. Stay patient and persistent, keeping your long-term goal in mind.
Conclusion
You’re facing a challenging situation with your home loan and the builder’s delays. By reprocessing the loan application, actively communicating with the builder, and considering legal options, you can navigate this situation effectively. Persistence and proper documentation will be crucial in achieving your goal.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: I understand the frustration and stress you're feeling due to the delay in your property possession. It's a common issue many face, and I appreciate your patience and resilience in dealing with it.

Understanding the Issue
Your builder delayed possession by six months, and now they refuse compensation as per the RERA clause. This is a clear breach of contract. You have every right to seek justice and compensation under RERA (Real Estate Regulatory Authority). Let's break down your options and the potential outcomes.

Raising a Complaint with RERA
Steps to File a Complaint:

Document Everything:
Collect all relevant documents such as the agreement for sale, payment receipts, and any correspondence with the builder.

Visit RERA Website:
Go to the official RERA website of your state. Each state has its own portal.

Fill the Complaint Form:
Complete the online complaint form. Include details about the delay and the builder's refusal to compensate.

Pay the Fee:
There is usually a nominal fee for filing the complaint. This can be paid online.

Submit the Complaint:
Once you've filled out the form and paid the fee, submit the complaint online.

Possible Outcomes
Positive Resolution:
If RERA finds your complaint valid, they will order the builder to compensate you. The compensation could be in the form of interest on the amount paid or even a refund with interest.

Builder's Defense:
The builder might argue unforeseen circumstances (like COVID-19) caused the delay. However, RERA considers only genuine and unavoidable delays.

Hearing and Final Order:
RERA will schedule a hearing where both parties can present their case. Based on the evidence and arguments, RERA will pass a final order.

Benefits of Filing a Complaint
Enforcing Accountability:
By filing a complaint, you're holding the builder accountable. This can deter them from repeating such actions with other buyers.

Compensation:
You could receive financial compensation for the delay, which can alleviate some of the financial burdens you've faced.

Potential Challenges
Time-Consuming Process:
The process might take some time, and there might be multiple hearings. Patience and persistence are crucial.

Builder's Influence:
In some cases, builders might use their influence to delay proceedings. However, RERA aims to be a fair and transparent platform.

Power of Legal Advice
While RERA is designed to be user-friendly, consulting a lawyer experienced in real estate can be beneficial. They can guide you through the process, ensuring all legal aspects are covered.


Final Insights
Raising a complaint with RERA is a strong step towards securing your rights and compensation. The process might be lengthy, but it's worth the effort. Regarding your investments, focusing on mutual funds can provide the growth and stability you seek for your future goals.

Always keep your long-term objectives in mind and review your portfolio regularly. Diversifying your investments and seeking professional advice will help you achieve your financial aspirations.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in