For delay in construction and handing over the possession of the premises the following legal remedies can be availed:-
- Commence with a legal notice.
- If there is an arbitration clause in the builder buyer agreement, then arbitration can be invoked.
- Consumer Complaint, under the Consumer Protection Act, either as an individual homebuyer or along with other homebuyers of the same Project.
- RERA is a specialised legislation, providing redressal mechanism for aggrieved homebuyers.
- People seeking refund can approach the NCLT. However, as per the latest amendment to the Insolvency and Bankruptcy Code, 100 buyers or 10% of the allottees of the Project, whichever is lesser, need to file a common petition.
- Civil Suit for recovery and damages