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Developer Filed for Bankrutpcy

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Developer Filed for Bankrutpcy

Last updated: February 1 2020
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  • Developer Filed for Bankrutpcy

    Hi - I bought a land in an under development project. Builder promised 18 hole golf course, club and other amenities. At completion of 9 hole golf course we were offered possession of land and option to register the land which we did. Now builder has filed for bankruptcy, and there is no further development on project. No roads, no lights, gold course not maintained and there are lot of buyer who have refused to take possession of the property. The cost of land that I registered is nothing as compared to what I paid if the project is not developed. What are my options? I am told I cant even file a claim with IRP as I have already registered the plot. Please help.
  • #2

    #2

    Re : Developer Filed for Bankrutpcy

    Originally posted by saurabh728 View Post
    Hi - I bought a land in an under development project. Builder promised 18 hole golf course, club and other amenities. At completion of 9 hole golf course we were offered possession of land and option to register the land which we did. Now builder has filed for bankruptcy, and there is no further development on project. No roads, no lights, gold course not maintained and there are lot of buyer who have refused to take possession of the property. The cost of land that I registered is nothing as compared to what I paid if the project is not developed. What are my options? I am told I cant even file a claim with IRP as I have already registered the plot. Please help.

    Can you name the Builder & the Project? An thread may already exist on the Project and there could be other members facing similar issues. If an thread on the Project exists already, this thread would then be required to get merged with the original existing thread.
    Please read IREF rules | FAQ's

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