Quote:
Originally Posted by Sixgun
How do you mean, forced to pay? if you don't pay the next installment, what?
I assume you already have 30-40% invested? but is it worth putting more into a dead project?
I'm not advising, just genuinely intereted in this plight and what are the possible 'out' stratergies?
The more i hear about RERA the more I think they have absolutely no actual powers, just an advisory body or something, which is a real blow to investors.
Anyone , anything positive to say? please?
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All the investors form a group and file a law suit - OR - a court order stopping all payments. Sounds difficult but not impossible.
I had a similar case with Omniyat where the land was not handed over by Dubai properties to the developer in Business bay. They were decent enough to stop all payments until further notice. They could have collected payments as per the contract but they decided otherwise.
Regards
Roshan