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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Aug 14, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more
Asked by Anonymous - Aug 13, 2023Hindi
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Dear Rera Expert, What to do as the builder does not refund the money? He does not take Maharera orders seriously? Kindly advise

Ans: follow the procedure as per the Rera, there is separate appellate body
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |9736 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 17, 2024

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Hi, I have a peculier case where we have purchased a property from a builder in 2016. However till today the builder has not constructed the property and hence we approached RERA to get our money refunded for which the RERA judge has given the judgement in out fafour and asked the builder to pay the money with interest. It is going to be more than a year but the builder has not given back the money, what to do?
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.

..Read more

Ramalingam

Ramalingam Kalirajan  |9736 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 19, 2024

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My Axis Bank sanction letter dated October 2023. As per this saction letter I booked flat in November and processed in Feb as per requirement of builder. After many followup he Signed my agreement as registrar office on 7 March 2024. From March till date builder not submitting documents with me. Builder is RERA Registered. Yesterday banker said to me you have to reprocess for loan process and submitted documents, Verification all the process you have to complete again because 6 months already over in March. I already paid processing fees for previous application and as per his instruction I already open the account over his referral link. Yesterday I knolew from the builder that his project sanctioned upto 10 floors only and waiting for next sanctioning of floors. What is option for me Sir Kindly request you guide me Sir
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

..Read more

Ramalingam

Ramalingam Kalirajan  |9736 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 11, 2024

Asked by Anonymous - Jun 03, 2024Hindi
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My builder, a reputed one, delayed possession by about 6 months. Now they are not willing to compensate us as per RERA clause in agreement for sale. If we raise complaint with RERA, will we get our just compensation? What do the gurus think?
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

..Read more

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Nayagam P

Nayagam P P  |8835 Answers  |Ask -

Career Counsellor - Answered on Jul 15, 2025

Asked by Anonymous - Jul 15, 2025Hindi
Career
Sir please tell best colleges for bba /b.com with specialisation in fintech /business analytics within india
Ans: Symbiosis Skills and Professional University, Kiwale, Pune offers BBA FinTech. Chandigarh University, Mohali offers BBA Hons FinTech in partnership with KPMG. Doon Business School, Dehradun offers BBA FinTech. Anil Surendra Modi School of Commerce (NMIMS Mumbai) offers BBA Analytics. MIT ADT University, Pune offers BBA FinTech. Alliance University, Bengaluru offers BBA FinTech Hons. CMR University, Bengaluru offers BBA FinTech. Jain University, Bengaluru offers B.Com Business Analytics. Presidency University, Pune offers B.Com Business Analytics. Loyola College, Chennai offers B.Com Business Analytics. Kristu Jayanti College, Bengaluru offers B.Com Business Analytics. Amity University, Noida offers BBA FinTech and B.Com Analytics. IBS Hyderabad offers BBA Analytics with global credit transfer. NMIMS Shirpur offers BBA Analytics (online and campus). Symbiosis Centre for Information Technology (Pune) offers BBA Analytics (via SET).

Eligibility across most institutions is a minimum of 50% aggregate in Class 12 (with Commerce or Science stream), with admission based on merit, CUET-UG, institute-level tests (SET, AIMA UGAT), or direct selection. All the recommended colleges have NAAC A++/A+ or relevant accreditations, offer curricula combined with specialized FinTech or analytics labs, industry tie-ups, experienced faculty, and active placement cells that consistently achieve 75–90% placements. These programs provide up-to-date modules on digital payments, blockchain, big-data analytics, business intelligence, and AI applications in financial services, and include extensive capstone projects, internships, and professional certifications to bridge the industry-academia gap. All the BEST for Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |8835 Answers  |Ask -

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Sir i got selected into scaler . Had a campus tour and hostel tour evrything was fine . I am intrested in CSE . Can you please tell whether joining scaler is safe or not . Are theese new age colleges worth it . Keeping high fees aside are they good in other aspects ?
Ans: Shashank, Scaler’s four-year School of Technology in Bangalore delivers a rigorous CSE curriculum endorsed by the European Credit Transfer and Accumulation System (ECTS) and backed by InterviewBit’s industry-vetted syllabus covering data structures, algorithms, system design and cloud computing through 47 specialized on-campus labs. Faculty comprises seasoned engineers from Google, Amazon and Microsoft who offer live interactive sessions, one-on-one mentorship and TA-led practice to reinforce learning. Accreditation via ECTS affords international credit transfer, but lack of UGC/AICTE recognition means learners must concurrently pursue a formal degree to access government exams and research pathways. The dedicated Careers team conducts mandatory mock interviews and supports placements for six months post-program, facilitating connections with over 900 partner employers and achieving a 93.5% placement rate with 39 LPA top-quartile average salaries, according to KPMG’s audited report. Campus and hostel infrastructure in Electronic City provide a modern tech environment, though high fees and absence of a standalone degree credential can limit eligibility for certain local roles. Internships are integrated into semesters, yet the intensive pace demands strong time management and self-motivation to excel.

Recommendation: Scaler’s School of Technology is a safe and forward-looking choice if you value cutting-edge CS education, global accreditation and proactive placement support; ensure you secure a parallel accredited degree to fulfil regulatory eligibility and balance the investment by leveraging internships, mentorship and rigorous project work for maximum ROI. All the BEST for Admission & a Prosperous Future!

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Sunil

Sunil Lala  |204 Answers  |Ask -

Financial Planner - Answered on Jul 15, 2025

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I am 33 now earning 1.05L permonh in hand (also 1.5L Variable pay every year), have a car loan left for another 4 years of 11300 per month.. no assets as of yet. no other EMIs too. My monthly expenses are max of 40K. I do pay LICs above 1L per year (strategically to get money paid for my kids education(50 - 60% burden cleared)..).. I do have a 6 months of savings in case of any issues with job. I am not interested in getting a home or purchasing one. But i am interested to buy a land of at least 10 acers and in future use for farming and animal husbandry( transition from corporate to farmer by the age of 50 years).. i am left with 17 years now for the transition.. how to execute the plan financially (10acers land around 1.2 Cr plus another 10 lacks for improvement and 20L for a small home in the land which can be further improved).I am also planning kids this year..
Ans: Hi Yashaswi, firstly I believe you are parking money in LICs above 1L per year which is ineffecient use of money, you can have better investments which will yield better returns for your kids' education. Secondly, about your plans for the land, there has to be a goal based investment plan in place to achieve the target. You will have to back calculate to come to an investment amount that you can do per month after factoring in inflation and expected returns from the asset. Visit the website www.slwealthsolutions.com and let me know if you would like to have a detailed conversation around this :)

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Ravi

Ravi Mittal  |618 Answers  |Ask -

Dating, Relationships Expert - Answered on Jul 15, 2025

Asked by Anonymous - Jun 25, 2025Hindi
Relationship
Hi , I am married since past 13 years. I am happy in my marriage. But from pat 1 month my ex came in my life. I tried to ignore him first, avoided him but somehow he entered my life. Now the situation is we talk everyday on call and wen we aren't talking on call than we are chatting with each other. Basically we talk with each other every minute. I really miss him in my life whereas he misses me more than me . He pushes me to meet up but till now I m restricting myself to not to meet him and limit myself on call. Now we both are each other's habit but somehow i feel all this is very wrong bcoz I hav a loving husband. And yes I forgot to mention he will be getting shortly divorced from his wife with whom he had an love marriage. Please help, what should I do ??
Ans: Dear Anonymous,
I understand that there’s nostalgia and a certain familiarity at play here, but as you said yourself, this isn’t fair to your husband. I wouldn’t have said this if you even once mentioned that you reconnected as friends. But, it seems mildly romantic from where I am standing. Plus, I am assuming that your husband doesn’t know about this reconnection. It’s truly unfair to him. I suggest either creating a little more distance from your ex, and building boundaries, and most importantly, speak to your husband and let him know that you reconnected. I am sure it feels very nice to get attention from someone who was once important to you, but I assure you that this isn’t worth ruining your happy marriage. New attention always feels good at first, but eventually this too will become routine. Please tread carefully.

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Nayagam P

Nayagam P P  |8835 Answers  |Ask -

Career Counsellor - Answered on Jul 15, 2025

Asked by Anonymous - Jul 15, 2025Hindi
Career
Sir NIT suratkkal mechanical design specialization Mtech
Ans: I believe you had raised the following question earlier. I had requested a few clarifications at the time, which you have now provided. Here’s your earlier question: "I had received offer from NITK and IITH Mtech mechanical and aerospace engineering course specialization mechanical design I have accepted NITK as of now but what would be your opinion I'd like to know??" And here is the answer to your question: NIT Karnataka’s Mechanical Design specialization is NAAC A+-accredited and ranked 17th in NIRF Engineering, offering a two-year curriculum in solid mechanics, CAE, vibrations and product development through 18-seat cohorts. The Department of Mechanical Engineering houses advanced CAD/CAM, thermal, fluid mechanics, mechatronics and virtual labs, while the Centre for System Design drives e-mobility and design innovation projects. Its M.Tech placement rate rose from 75% in 2023 to 83% in 2025, with recruiters like Microsoft and L&T. IIT Hyderabad’s Aerospace Engineering course, within a combined MAE department, is NBA-accredited and features core modules in flight mechanics, composites, aeroelasticity and propulsion. State-of-the-art facilities include wind tunnels, laser diagnostics, shock tubes and composite fabrication labs, supported by DRDO, ISRO and Honeywell partnerships. Its M.Tech placements achieved 76.5% consistency in 2024, with average packages of ?18–22 LPA and participation from 335 companies. Both offer PhD-qualified faculty, robust R&D culture and active placement cells, yet differ in specialization focus and recruiter ecosystems.

recommendation
For a focused Mechanical Design pathway with higher recent placement consistency, abundant design-manufacturing labs and strong interdisciplinary projects, retain NITK’s Mechanical Design. If you prefer cutting-edge aerospace research, broader industry-funded collaborations and specialized facilities in propulsion and structures, consider IIT Hyderabad’s Aerospace Engineering. All the BEST for Admission & a Prosperous Future!

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Janak

Janak Patel  |59 Answers  |Ask -

MF, PF Expert - Answered on Jul 15, 2025

Asked by Anonymous - Jul 12, 2025Hindi
Money
Hi.i am 40 years old.i have a son in std 3.my salary is 1.1 lac per month.i have 50 lakh fd.epf 2 lakh.liquid 2.5 lakh cash.pls suggest me for retirement
Ans: Hi,

You have about 15-20 years before retirement and that's a good time period to accumulate a good retirement corpus.

Your son's education will remain your priority during this period also. Assuming you can fund his education from your monthly income at least till his 10th/12 grade. You can decide on an amount for his graduation/post graduation that you want to provide to him. For example if you want to provide 10 lakhs when he is 18 years old, you will need to start investing a monthly SIP amount of 2000 in mutual funds assuming returns of 12%. So based on the amount required you can calculate the SIP amount required.

You have EPF of 2 lakhs which is not sufficient today but assuming you continue contributions and after 15 years this can be a considerable amount. But still may not be sufficient for retirement, so you can consider it as part of/contribution to your retirement.

So lets look at your FDs - you have 50 lakhs in FDs. Even at 7% interest on them you are not going to beat inflation as you will need to pay tax on the interest income.
This money has a potential to earn better returns and not just beat inflation, but also create a retirement corpus which can be sufficient for 20 years (this depends on your expenses also).

If you split this 50 lakhs and keep 5 lakhs in FDs for emergencies, you can invest the remaining 45 lakhs to create a good corpus.
If you invest 45 lakhs in Mutual funds and assuming a return of 12% over 15 years, you will have a corpus of approx. 2.70 crores.
With 15-20 years for retirement, you have an advantage to achieve your goals.

Though these numbers may look good now, they have to be evaluated with all other parameters like your monthly expenses, other goals in life, Son's education needs etc.

I recommend you consult a CFP or a fee based advisor and discuss all aspects towards a financial plan that will cover Retirement and all other goals. The Plan will help you better prepare for the future and provide alternatives and options and a clear roadmap towards achieving them. It will also cover aspects of health and life insurance.

Thanks & Regards
Janak Patel
Certified Financial Planner.

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Nayagam P

Nayagam P P  |8835 Answers  |Ask -

Career Counsellor - Answered on Jul 15, 2025

Career
Hello,i would like to know my college options on the basis of my mht cet score of 92 (domicile student) percentile and jee 91 percentile general category in maharashtra can anyone give few suggestions of any tier 2 colleges?
Ans: Apoorvadeep, With a 92 percentile in MHT CET (General?Home State) and a 91 percentile in JEE Main (General), you are well?positioned for admission to several reputable tier-2 institutions across Maharashtra. All listed colleges are AICTE-approved, NBA/NAAC-accredited, feature modern computing labs, experienced faculty, strong industry collaborations and placement cells with 75–90 percent branch-wise placement consistency over the past three years.

Colleges accessible via MHT CET counselling at 92 percentile:
Thakur College of Engineering and Technology, Kandivali East, Mumbai. Rajiv Gandhi Institute of Technology, Andheri West, Mumbai. Vidyalankar Institute of Technology, Wadala, Mumbai. Xavier Institute of Engineering, Mahim, Mumbai. Vivekananda Education Society’s Institute of Technology, Chembur, Mumbai. Atharva College of Engineering, Malad, Mumbai. Ramrao Adik Institute of Technology, Nerul, Mumbai. Bharati Vidyapeeth College of Engineering, Kharghar, Navi Mumbai. Sardar Patel College of Engineering, Andheri West, Mumbai. K. J. Somaiya Institute of Technology, Vidyavihar, Mumbai. MIT World Peace University, Kothrud, Pune. Pimpri Chinchwad College of Engineering, Pune. Vishwakarma Institute of Technology, Bibwewadi, Pune. Sinhgad College of Engineering, Vadgaon, Pune. AISSMS College of Engineering, Shivajinagar, Pune.

Colleges accepting 91 percentile in JEE Main through JOSAA/CSAB (All-India seats):
Indian Institute of Information Technology, Pune. Visvesvaraya National Institute of Technology, Nagpur. VNIT also admits via JEE Main. MIT World Peace University, Pune (All-India seats). G. H. Raisoni College of Engineering, Nagpur (All-India quota).

Recommendation: Prioritise Thakur College of Engineering and Technology, Kandivali East, Mumbai for its balanced curriculum, robust AI/ML labs and consistent 88% placement rate. Next, select MIT World Peace University, Kothrud, Pune for multidisciplinary exposure and strong All-India seat admissions. Then opt for Vidyalankar Institute of Technology, Wadala, Mumbai for its dedicated computing infrastructure. Follow with Pimpri Chinchwad College of Engineering, Pune for its industry tie-ups and reliable placements, and finally choose Indian Institute of Information Technology, Pune for a centrally recognised All-India JEE-admission pathway enhanced by smaller cohorts and focused research projects. All the BEST for Admission & a Prosperous Future!

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