Cochin - Apartment Delivery Delayed by Builder

[kpsunil]

Hi,

I had booked an apartment in Cochin with a reputed builder.
The delivery of the same was to be done by Feb 2010.

Now they have sent a mail that the delivery is to be done by Dec 2010.
That is a delay of almost an year.

Is there any legal action that can be taken or any penalty charged to the the builder?

Thanks in Advance