Ongoing delay in house possession is one of the worst nightmares of home-buyers. It causes direct loss of money, increases other costs and imperils other plans of buyers for their future. Delays in possession may occur due to reasons like pending approvals from the municipal authorities or dispute, or due to lack of working capital which happens when the developer has run out of funds and the bank is refusing to fund the project as well.

But whatever be the reason, buyers should not lose hope as there are several steps that they can take in such kind of situation. To avoid all these hassles, many decides to go with renowned developers like Dynamix Group who has great legacy be it developing villas in Goa or plush 2 BHK flats on Ghodbunder Road, Thane. Read on to find out what all options you have as a buyer when it comes to tackling home possession delays.

Ask For Compensation

If the builder has delayed completion of the construction beyond the stipulated time, buyers are entitled to seek compensation from the builder. They can additionally ensure at the time of entering into the agreement with the builders that such a clause governing compensation is properly mentioned in the agreement.

Claim Your Share

If you as a buyer are assured that you will get the possession of the flat within a set deadline and if it gets delayed, you can claim the money spent by you in paying rent for the alternative accommodation during that particular time frame. You are also entitled to the interest on the payment made by you till date for the flat in case of delayed possession. Further, you can claim compensation against indirect losses provided you have a strong proof for it.

Get Your Refund Rights

Buyers can ask for a total refund if there has been a case of deficiency of services for a very long duration and such a clause has been added in the legal contract and/ or documents at the time of purchase. In this situation, you can go directly to the civil court and file your case for a refund against the builder or developer as the contract permits. If you have forgotten to add this refund clause in your contract at the time of purchase/documentation, there is no need to panic. You can seek recourse at the Consumer Court and ask for suitable remedy.

The Law Is On Your Side

There are additional legal provisions such as the Domestic Building Contracts Act 1995 which states that the builder has to provide warranties for completion of project on time, that all work carried out is in compliance with the legalities, plans and specifications set out in the contract, all material used for the project construction will be of high quality and when the work is completed, the home is fit and safe for occupation.

Notify Before Acting

Before taking any action, you are advised to send a legal notice to the opposite side to give them adequate time and valid opportunity to respond. Once the notice is sent, the builder might speed up the process and take necessary actions and save you a lot of time as well as money.

Now that you know the various legal recourses you have to tackle home possession delays, you can act wise and buy smart. Your best bet though, we would say, would be to buy the luxurious 2 BHK flats on Ghodbunder Road. Spacious, luxurious, awesome location and with all modern amenities, they guarantee the best, stress-free, comfortable lifestyle that you and your loved ones totally deserve.