Legal Question in Real Estate Law in India

I made an agreement by paying 1 lac for buying a land in Manipal for 10 cents. But it got delayed for long time as he had problem in registration of that land. He offered a new land and I am not interested and requested him to return the money. Though he promised to return it he has not done that. He is refusing to pick my call and now blocked my calls. How to proceed further.


Asked on 2/24/14, 12:33 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

24.02.2014

Dear Sir / Madam,

Registration of transfer of an asset is normally done only at the time when the full agreed purchase consideration is paid by the purchaser to the seller. If you as the purchaser have delayed the settlement of the consideration and the advance was a token amount, the buyer is entitled to forfeit the advance paid due to the delay. If the seller has delayed the registration despite receipt of the full consideration, the seller is liable to fulfill the contract, else refund the entire monies adding reasonable compensation for loss of interest to the prospective purchaser. If your position it the latter, Police action is recommended.

Regards,

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Answered on 2/24/14, 5:54 am


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