Friends,
Many of us didn't give time to read the BBA carefully while signing it. (I did).
I request to all the forum members, please read the BBA and allotment letter carefully. Post any queries / doubts you get on it. We'll have replies from the experienced people here. As you'll be aware of the situation better, this will surely help to make the valid points while making a case against builder / NA, in case your project comes under threat.

PS: I know BBA are biased favoring builder but reading will certainly clear some doubts else people would be fighting for something which they themselves have agreed/signed certain clauses/conditions.
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  • Originally Posted by LChand
    Friends,
    Many of us didn't give time to read the BBA carefully while signing it. (I did).
    I request to all the forum members, please read the BBA and allotment letter carefully. Post any queries / doubts you get on it. We'll have replies from the experienced people here. As you'll be aware of the situation better, this will surely help to make the valid points while making a case against builder / NA, in case your project comes under threat.

    PS: I know BBA are biased favoring builder but reading will certainly clear some doubts else people would be fighting for something which they themselves have agreed/signed certain clauses/conditions.



    In your BBA, please read the following aspects carefully;

    1 What happens if the project is abandoned.

    2. If the farmer agitation will be an excuse for vaoiding payment of penalty.

    3. What protections available to you under prevailing situation

    Also read the Tripartite agreement signed between you, builder and bank. Who has first right over the refund, you or bank?
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  • Originally Posted by SMJ2011
    In your BBA, please read the following aspects carefully;

    1 What happens if the project is abandoned.

    2. If the farmer agitation will be an excuse for vaoiding payment of penalty.

    3. What protections available to you under prevailing situation

    Also read the Tripartite agreement signed between you, builder and bank. Who has first right over the refund, you or bank?

    In TPA, its always the bank who has the first right over the refund. Banks are smart enough to make this clause. I have read TPA format from LIC Housing.
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  • Originally Posted by LChand
    In TPA, its always the bank who has the first right over the refund. Banks are smart enough to make this clause. I have read TPA format from LIC Housing.



    So the buyer gets sc***ed from both sides? Pity man.......Savings wiped... ka sapana kahatam..start saving again
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  • Also it would be interesting to read the lease agreement between Authority and builders...Can the Authority pass on extra compensation liability to the builder? If not, flat buyers are safe.
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  • Court in their judgement has clearly spelt out for investors
    which the builders are bound to follow. Read the following text of judgement:

    "38. We also issue directions, as it have been issued by the Supreme Court, in Devendra Kumar's case (Supra) that those who have made investment by booking flats etc., shall be entitled to get back the amount along with
    interest at an appropriate rate and if the builders refuse to pay the amount, then they shall be free to avail appropriate legal remedy."
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  • Registered Lease Deed

    Friends, now time for another step for all of you. Ask your builder to provide you the copy of registered lease deed which mentions the terms/conditions/clauses which builder has agreed with NA / GNA authority for the said land. From few builders, its difficult to get a copy of it. But my friend got the copy from Amrapali for Silicon City project....
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  • Most of the BBAs are one sided and favor builders without limit. There are clauses that say about "protection of builder in case land comes out to be disputed" or " verify the title of the land" on your own. In addition, most of them also have points that "any increase of any kind of rates from authority would be passed on to the buyer". Builders are usually protected from these issues in case of 1-2 projects in any area, but it would be difficult for all of them to prevent a legal action if it happened at such a big scale like this.
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  • Objective of this thread is people should be aware of what are the points in their favor..else they would be fighting with points which favor builder and buyers will loose the case. All buyers in various projects should come together and file a single case against all builders and NA like farmers did.
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  • another question is if the order of SC overrides the clauses of BBA between builder and buyer? What if a builder deducts 10-15% as per bba?
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  • Originally Posted by chandra2034
    Are Lal Chand ji, 3C ka BBA upload to karo tab to read kare .... remove your specific details from your BBA and upload on IREF for public reading....Aap aakele kyo read karoge.. sa log read karenge..

    Each individual is in possession of their BBA prepared by builder. They should read those BBA's first. I have read mine 27 page document and had read before signing. Even I along with my friend (who also has booking there) had approached 3C with queries...to clarify certain points well before signing it.
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  • One saying from the movie "KHOSLA KA GHOSLA"....

    "Zameen ke masle bade tede hote hain sirjee, aadmi khatam ho jaata hai par case nahin"....

    So, enlighten yourself what you are fighting for....nahin toh phir...... ?
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  • Yes, this is very important . We often miss the fine print & assume on certain details .

    As suggested, we need to upload our BBA's ( after removing personal details ), so BBA's can be compared & discussed .
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  • If SC overrides the BBA clause, it must e favoring the buyer as he is innocent. Buyer shall not be charged in that case & should get 100% return with interest. Yesterday, people were shouting in rally (I saw in News), humein hamara g_har chahiye..paise nahin...
    Bhai ..are you sure..u'll get your money return? You see...when it comes to taking money back from builder follow this "First come, first serve"...later on builder'll say...ab paisa nahin hai... phir na toh makaan na hi paisa....then people'll shouting "paisa toh wapaas de do"...
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  • Originally Posted by amarakbar
    Court in their judgement has clearly spelt out for investors
    which the builders are bound to follow. Read the following text of judgement:

    "38. We also issue directions, as it have been issued by the Supreme Court, in Devendra Kumar's case (Supra) that those who have made investment by booking flats etc., shall be entitled to get back the amount along with
    interest at an appropriate rate and if the builders refuse to pay the amount, then they shall be free to avail appropriate legal remedy."



    Yes.. Even if there is nowhere mention about reund in your BBA, you can still claim your 100% amount with interest as per SC for Noida ext case.
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  • Originally Posted by fritolay_ps
    Yes.. Even if there is nowhere mention about reund in your BBA, you can still claim your 100% amount with interest as per SC for Noida ext case.

    Let me remind you all 3C has made some transparency in BBA / Allotment for money return in case they are unable to provide the said apartment. Principal Amount + 10% Simple Interest (not compound interest)
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