[Resolved]  Jaypee Developers — Buddh circuit studios ii — failed to be delivered on committed time

Address:	Gautam Buddh Nagar, Uttar Pradesh
Website:	www.jaypeegreens.com

I booked a 1BHK apartment in Buddh Studios II in Apr 2013 and now after three years the tower is still in its very initial stage of construction. As per the Provisional Allotment letter issued by the builder the property was expected to be delivered in 30 months from the date of the PAL and 6 months of grace period. Now the project is in the state where it will take another 3 years minimum to get delivered to its respective owners. They commit to pay the penalty of 5 Rs / Sqft /month which is nothing. We are liable to pay a much higher interest rate to the bank for the money we have invested in the project.

And now they are not returning the money back with interest or shifting my investment in any other project.

What action can be taken in this concern as my hard earned money is at a stake.