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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  • Likely scenario:-(making mockery of SC order)

    Builder will sweet talk with buyers, vague oral commitments...supreme court judgement ka hawala bhi dega..but no specifics...no date lines

    Builder will make exgragaretd claims to Authority

    Authority will make some payment to builder

    Buyers continue to chase builders

    Builder will make hue & cry...bahoot loss ho gaya..barbad go gaya

    Hefty deductions..negligible amount to return

    Bank suddenly surfaces....builder gives refund chq to bank

    bank has huge outstanding.....recovery from salary

    Poor buyer snatching hairs
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  • Originally Posted by LChand
    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"...


    In all of such scenario those investors will be smart who filed application to refund money ASAP from their builders even at some loss. Later on if 26th HC decision goes in favor of farmers then neither investor will get money nor flat. I can not understand why Buyers Association have only 1 stand "We do not want our money back at all , we want our flat anyhow", do they know this is is very risky with current senario.

    From now its clear that court will not over rule farmers rights at all and hence if land return to farmers then builder lobby will say Bhai Logon, ab flat to ban nahe sakta jaldi aur paisa aapko chahiye nahe so better to wait and have full faith with us, and we will make any middle way very sooooooooooooooooooooooooon. Our prime motto not to suffer buyers and we will definitely give flats anyhow.... So wait , wait ,,,,,,,,,,,,,,,,,,, wait...

    SC last decision was in much favor of buyers of getting full money return with interest with in 1 month from their builder, but if NE Buyers Association do not agree this solutions at all then in next decision of SC there are chances that SC will not write this line in their final judgement and ask buyers to discuss with builders for getting their flat, because SC is for delivering judgement of effective parties and not delivering flats to effective parties.
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  • Withdrawal of amount

    I booked flat in sec 74 Noida & paid only 1lk booing amount.Now I want to take that amount back,so I want to know whether I would get whole amount back.Plz comment..
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  • Originally Posted by saurabh2011
    In all of such scenario those investors will be smart who filed application to refund money ASAP from their builders even at some loss. Later on if 26th HC decision goes in favor of farmers then neither investor will get money nor flat. I can not understand why Buyers Association have only 1 stand "We do not want our money back at all , we want our flat anyhow", do they know this is is very risky with current senario.

    From now its clear that court will not over rule farmers rights at all and hence if land return to farmers then builder lobby will say Bhai Logon, ab flat to ban nahe sakta jaldi aur paisa aapko chahiye nahe so better to wait and have full faith with us, and we will make any middle way very sooooooooooooooooooooooooon. Our prime motto not to suffer buyers and we will definitely give flats anyhow.... So wait , wait ,,,,,,,,,,,,,,,,,,, wait...

    SC last decision was in much favor of buyers of getting full money return with interest with in 1 month from their builder, but if NE Buyers Association do not agree this solutions at all then in next decision of SC there are chances that SC will not write this line in their final judgement and ask buyers to discuss with builders for getting their flat, because SC is for delivering judgement of effective parties and not delivering flats to effective parties.


    Saurabh,
    Mr Tyagi in leading for NEFBWA and given his experience in GDA i believe he has seen more property disputes than all of us combined. If I think about rationale on why he is pushing for flats and not for money refunds because he completely recognizes that builders will file for insolvency of SPVs and buyers will just get "thenga" because after paying all nothing would be left. But he is pushing for flats and not money he is pressurizing the courts as well govt to listen to common person's problems and hence a possibility of a mid way solution.
    Just my point of view.
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  • Originally Posted by itismaddy
    Saurabh,
    Mr Tyagi in leading for NEFBWA and given his experience in GDA i believe he has seen more property disputes than all of us combined. If I think about rationale on why he is pushing for flats and not for money refunds because he completely recognizes that builders will file for insolvency of SPVs and buyers will just get "thenga" because after paying all nothing would be left. But he is pushing for flats and not money he is pressurizing the courts as well govt to listen to common person's problems and hence a possibility of a mid way solution.
    Just my point of view.


    Good for knowing about NEFBWA stand and have some logic in "he is pressurizing the courts as well govt to listen to common person's problems" , but there will be only 2 possibilities either courts will be pressurized or will not be pressurized. Current stand of NEFBWA is purely 1 way and if they insist only for that stand then other possible ways may be closed after final decision from court. There is no harm for looking the issues from all eyes, situation is not normal, it is now extra complexed.
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  • Getting money back from builder is a very tough job. Few should try, see what replying they are getting. Yesterday a woman was interviewed, she has asked for money return, builder said, it'll take time, how much time...? Nothing assured. Forget the interest, if Principal amount is returned, consider you are god blessed.
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  • I think it is a good tactical move.

    The demand for delivery of flats is a move to pressurise govt, authority and courts towards a amicable negotiated settlement with farmers and allow the projects to go on as planned. The risks involved are additional cost on account of extra compensation to farmers and delay in delivery. This will benefit the buyers, banks and builders most.

    Refund is in any case covered by SC judgment and therefore is next priority.

    In my view the stand is correct in the circumstances. My feeling is that HC judgment on 26th will be influenced by this stand.
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  • Exactly my point. Some show on NDTV, one person was given reply from builder when he went for refund for affected project "Aapko paisa lautayenge to hamare to ke bartan bik jayenge".

    Even supertech and amrapali have been saying that they will but when the anchor asked them about a timeline he was evasive in reply. Its just tarkane ke techniques.
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  • ENEN IF U READ BBA CAREFULLY AND HAVE RESERVATION ABOUT CERTAIN CLAUSES WOULD THE BUILDER CHANGE THE SAME? ONLY SOLUTION IS THAT PJOJECT BASED GROUP SHOULD FORM AND THEY SHOILD NOT SIGN UNLESS THE BUILDERS MODIFY THE CLAUSES WHICH ARE OBJECTIONABLE. INDIVIDUAL CANNOT DO MUCH ONLY COLLECTIVE BARGAINING WOULD HELP. I HAVE BOOKED IN AMRAPALI HEART BEAT CITY, PEOPLE CAN FORM GROUPS PROJECTWISE IN THE FORUM, DISCUSS CLAUSE BY CLAUSE, SEEK LEGAL OPINION AND THE SIGN THE AGREEMENT.
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  • Originally Posted by rpanand25
    ENEN IF U READ BBA CAREFULLY AND HAVE RESERVATION ABOUT CERTAIN CLAUSES WOULD THE BUILDER CHANGE THE SAME? ONLY SOLUTION IS THAT PJOJECT BASED GROUP SHOULD FORM AND THEY SHOILD NOT SIGN UNLESS THE BUILDERS MODIFY THE CLAUSES WHICH ARE OBJECTIONABLE. INDIVIDUAL CANNOT DO MUCH ONLY COLLECTIVE BARGAINING WOULD HELP. I HAVE BOOKED IN AMRAPALI HEART BEAT CITY, PEOPLE CAN FORM GROUPS PROJECTWISE IN THE FORUM, DISCUSS CLAUSE BY CLAUSE, SEEK LEGAL OPINION AND THE SIGN THE AGREEMENT.


    Oh did i forgot to mention India ranks 183 amongst 184 countries in enforcement of contracts (Source Business New Channel from some survey)
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  • Originally Posted by SMJ2011
    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?



    As per my limited knowledge , no private agreement can supercede the Law of the land. In this case if the SC says that builder has to reimburse the full amount along with interest then neither builder nor bank can do anything !!
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  • mr chand thanx a lot for the inputs.since u have done a lot of spade work can u please upload your BBA without name details etc for our benefit.
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