Hi,

Three years back, I decided to buy a house in one of the upcoming projects by a builder in Delhi, India. I was confirmed the possession by Oct'09. I had taken 20lacs INR as loan from a finance company and paid around 9lacs to the builder straightaway.

But, till date there are no signs of construction at the builder site. He is not receiving customer calls and is continuously shifting his offices. He is not ready to make any promise of the possession date.

I am in a very bad situation now. I dont want to pay the loan EMIs because I can see that I will never get this house and the builder is a fraud. But, I am regularly getting calls from the finance institution to pay my EMIs or they will take me to the court. They say that they have no responsibility in this situation.

Please suggest what should be the right course of action under this situation. I have filed a complaint with Economic Offence Wing, Delhi police, but am still waiting for a response from them.

Any help will be much appreciated.

Thanks,

Sachin Goel.