MOST OF THE HOMES ARE COMPLETED ACCORDING TO THE GUIDE LINES PRESCRIBED BY THE CMHC:
Here is the section from their web site. Please study the same well and try and understand how they go about laying the basement.
CMHC: http://www.cmhc-schl.gc.ca/en/co/maho/gemare/gemare_002.cfm

All around the periphery (Out side) there are some tiles placed at the bottom level slightly below the concrete slab of the basement floor. They are called drain tiles or weeping tiles. And from that collection area a drain pipe is led to the street drain and in some older locations away from the home sloping down wards to drainage. Please go through the link and re read the same over again to understand the same.

Please give due consideration to this. : http://www.cmhc-schl.gc.ca/en/co/renoho/refash/refash_012.cfm

Best cure for a start is a de-humidifier. Also contact your HOME Insurance broker for advice. Some have paid upto $5000.00 to help clear the problems with in the house. : http://www.cmhc-schl.gc.ca/en/co/maho/yohoyohe/momo/momo_007.cfm
If they find a few cracks in the floor they use some PARGING cement to fill in the cracks after going down as far as they can reach down the crack and fill it to stop the leaks. It will be worth waiting for this repair till the onset of the Summer, during the very hot weather.

Below the Basement Floor, there is a layer of gravel which drains and takes away all or most of the water from the floor. That water is taken away from the peripheral drain tiles and into perforated pipes to a collection pipe and away from your home and into the storm drain to the street, in a manner it slopes away from the basement. Any ingress of water through the floor indicates some deficiency and there are people who know exactly what to do to rectify the same. It could lead to very expensive repair costs. If there are any plans that were submitted by the builders or you know the name of the builder, it will be well worth getting in touch with him or alternately find some one who is knowledgeable to trouble shoot and provide you with an estimate for such repair. Also contact the Insurance agent and voice your concerns to him.

Yours is an older home. I would like to know the age of it prior to commenting. Since this problem might have been known or anticipated by the previous owner and has experienced the same during his stay, might have considered to keep silent and sell the same rather than make an insurance claim. I know a few who market their home at a slightly lower price to attract the buyers and move away from the scene and lie low. They dry it with dehumidifiers and with extra heating during the winter to keep the moisture away prior to selling such a home. You are the only one who can decide if it is such a home. You might know the sellers by name or might have met them too. Hence it is your call. On the contrary, the problem might have just got started.
I am not a builder. But I have helped a few with wet basements. In one case I have helped people remove all of the walls and partitions and re build them to completion and within a month. The Cost about $5000 and the insurance paid for all of it. (Deductible $500.) If it is less than a few buckets during each rain, then the problem is considered minor and the cure for the problem that you are experiencing may not be expensive. Also do not forget to use a liberal supply of fungus removal spray and drying agents. (Use face masks to avoid inhalation) When it is all over, I know, you will heave a sigh of relief.

Sorry to hear about your basement problems, and I hope this helps you a little.

Freddie.

Hi Aashu,

Did you get the basement fixed? If so, could you please give the name and phone number of the company?

Thanks.