Legal Question in Real Estate Law in India

I booked a flat in Oct 2009 and till date i didn't recieve possesion. I took home loan from SBI Pune. In June 2012 builder send letter for disbursment,but bank hold that because according to bank if flat possesion is not given within 18 months builder has to submit "Delay Letter" mentioning reason for the delay.Only after that bank can release the disbursment.Builder is not ready to give that letter.Can you please let me know the rlevant rule/circular from RBI mention that Delay letter is required?Is it complusory?


Asked on 6/14/12, 2:17 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Check RBI website.

Also remember that every bank has its own sets of procedures, apart from RBI guidelines.

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Answered on 6/14/12, 3:29 am


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