Legal Question in Real Estate Law in India

Dear Sir , I have applied for home loan for resale flat in bank & get sanction letter also.,after submitting property documents & perosnal papers.After verbal confirmation from marketing representative of bank , I made registered aggrement with owner on which I paid stampduty+regst. charges @3 lacks. After submitting original regst.papers to bank they asked me to pay thier stamp duty which also I paid. But when I followd them for loan disbursement they told that my file sent to head office for disbursment which will happen in next week. When I approached next week in bank , they asked me to go head office & after cotacting them ,techical & legal team rejected file for disbursment since as per them six years back builder of same property has blacklisted & bank decided not to fund on this property. Now I am not getting loan but my stamp duty & regst fees blocked , can I file case against bank for paying compensation on account of thier marketing dept confirmation of releasing loan? pls. advice


Asked on 8/19/13, 1:10 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.08.2013

Dear Sir / Madam,

You should certainly file a compensation suit for recovery of damages against the proposed lending bank for giving you false assurances and letting you down. The bank ought to have checked the viability of the financing arrangement before asking you to carry out the registration of the apartment. Moreover, if your purchase deal gets cancelled for whatever reasons, you should recover the entire non-refundable Stamp Duty and registration fees of Rs. 3 lakhs from the concerned Marketing Officer of the bank. Also lodge an FIR in the local Police station against the Bank Manager for cheating and falsification. Only after having done this, proceed to another bank for securing your financing arrangement.

Regards,

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Answered on 8/19/13, 3:22 am


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