The home buying process involves a huge amount of research, financial aid to acquire a desired property or home to make it a well-fitted house. Home buyers usually invest their hard-earned money and lifelong savings to have a perfect and own home. You put all your efforts into the whole process of completing and satisfying every possible norm associated with the process, and then you would obviously expect appreciation of all the efforts taken by getting on time possession of the property with high quality construction and amenities. But what if the possessions are not given on time and even postponed much far from the actual possession dates? What should one do in such unwanted situations? The unwanted delay in possession may give rise to many issues like unnecessary rental expenses, EMIs if the property is taken with financial aid of loan etc.Unnecessary delays in the possession may lead to numerous issues which may affect future plans and financial attributes of people. In such cases, it is very necessary that you must have an idea of what remedies are present which can help you overcome such issues.The foremost thing to do is registering a complaint for deficiency in service against the developer or builder according to the Consumer Protection Act (CPA), 1986. Buyers are entitled to claim for their losses if a developer delays the project even by a delay of one day. Developers usually delay possessions due to various reasons like pending legal approvals or increasing property prices which may lead to increase in the cost of the property which in future could be levied on the property owners giving the reason of increased prices, although buyer has signed an agreement with older rates. In such delays, buyers can claim for their losses due to delay under the Consumer Protection Act.For properties which are bought for personal use, case can be filed in the consumer dispute redressal commission at various levels depending on the price of the property- district, state and national commission.If the delay in the project is caused due to the developer is running out of funds or banks and financial institutions are not ready to finance the project and the construction of the project has been stopped and it is confirmed that the flats won’t be completed, then home buyers can claim for the money which they have invested in the project to buy alternative home at the ongoing market prices of the respective area. If the delay is for a few months or years, then buyer can also claim the money which would be spent to pay rent on an alternative accommodation for the delayed time.Home buyers can also claim interest on the payment made till date in the project. In Maharashtra, under the Maharashtra Ownership of Flats, Act, 1963, buyer can also ask for a refund of the amount submitted to the builder if the delay is beyond the stipulated time and that too with minimum nine per cent simple interest. The prescribed interest can change between nine to eighteen per cent which will be liable only on the amount which is proven to be paid to the developer.Other than above mentioned provisions, there are several other additional provisions which may help you in the delay of possession issues such as Domestic Building Contracts Act 1995. Under this act builders and developers have legally provide various warranties stating that the work will be completed on time, all work will be carried out in accordance to plans described in the contract etc. Under this law, home buyers are entitled to take actions against the delays caused in the projects. It is advised that before taking any action against the developer you must send a legal notice giving them a chance to respond.займ на карту без отказов круглосуточновзять кредит онлайн