When home buyers invest their hard-earned money in purchasing a property, they rightfully expect timely possession of their new home. Unfortunately, there are several situations where the procedure could go disappointing. The builder may fail to deliver the property to the buyer within the stipulated time frame (or, in some cases, even after a lengthy period). As buyers, you must take various legal actions to protect your rights and seek redressal for your delayed possession. By taking the right legal steps, home buyers can assert their claims and hold developers accountable for the delayed possession of their property.
In this blog, you will explore some of the legal actions you can take as home buyers and get justice.
What To Do in Case of a Delayed Possession?
The specific solutions available for property may vary depending on the jurisdiction and the purchase agreement terms. However, here are some standard legal actions that can be taken:
- File a Complaint With a Regulatory Authority
Any jurisdiction has regulatory bodies or authorities that oversee the real estate sector. Buyers can file a complaint with the relevant authority, providing details of the delayed possession and seeking their intervention. These authorities may be able to mediate the dispute or impose penalties on the developer.
- Seek Help from Consumer Forums or Commissions
In some countries, dedicated consumer forums or commissions handle disputes between buyers and builders/developers. Home buyers can file a complaint with these forums seeking compensation or specific contract performance.
- File a Lawsuit
Buyers can file a lawsuit in civil court seeking compensation for the losses incurred due to the delayed possession. They may also request that the court order the developer to complete the construction and hand over control per the agreed terms.
- Search for Alternative Dispute Resolution
Buyers and developers may use alternative dispute resolution procedures like mediation or arbitration instead of filing a lawsuit. Comparatively speaking, these procedures can be less expensive and time-consuming than traditional litigation.
- Consult with a Legal Advisor
Home buyers should consult with a real estate consultant specialising in property law. Maxleben Advisory is one of India’s topmost Builder-buyer dispute solvers. Consult them for the proper guidance on the specific legal actions available in their jurisdiction, and they will help navigate the complexities of the legal process.
Takeaway
Remember that the availability and efficacy of various legal measures can change based on the rules and laws in your country. It’s essential to consult a legal advisor who can offer guidance per your case’s needs.