Can builder ask court to allow him to refund the buyer in installments. Can builder ask court to allow him to refund the buyer in installments. The litigation expenses and agony expenses. If yes, what counter arguments can be told to the judge to force him to pay me in lumpsum. Possibility is that the builder will default in installments after a while then what to do. It is a consumer case. What does RERA say about modus operandi of refund process by builder. Are there any previous judgements on this process.
Asked from: Uttar Pradesh
Regarding your question about a builder requesting the court to allow installment-based refunds, it is possible for a builder to make such a request. However, the final decision would depend on the discretion of the court based on the circumstances and the applicable laws in your jurisdiction.
In a consumer case, if the court allows installment-based refunds, it is crucial to carefully review the terms and conditions set forth by the court. These terms may include the specific amounts, timelines, and any penalties for defaulting on the installment payments. It is important to consider the credibility and financial stability of the builder when evaluating the feasibility of installment payments.
If you have concerns about the builder defaulting on the installments in the future, you may present counterarguments to the court. Some possible counterarguments could include:
- Requesting a lump sum refund: You can argue that a lump sum refund is more favorable and provides you with immediate financial relief and closure. You may emphasize any financial hardship or need for the funds to support your case.
- Builder’s financial stability: If you have evidence or concerns about the builder’s financial instability, you can present this information to the court. Highlighting any past defaults, insolvency issues, or ongoing legal disputes involving the builder may strengthen your argument for a lump sum refund.
- Consumer protection laws: Depending on your jurisdiction, consumer protection laws, including those related to real estate and construction, may offer specific provisions that protect the rights of homebuyers. You can cite these laws and regulations to support your request for a lump sum refund.
As for the modus operandi of refund processes by builders under the Real Estate (Regulation and Development) Act, 2016 (RERA), it is essential to review the specific provisions and regulations applicable in your jurisdiction. RERA typically mandates certain refund mechanisms and timelines to protect the rights of homebuyers, but the specific details can vary by state. The RERA confers certain responsibility over the builder.
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