Legal Question in Real Estate Law in India

I have taken a flat from one builder and loan was processed by LICHFL after paying EMI for 24 months we got to know that builder taken loan from other syndicate bank as a collatral security my flat is also in that list(complete block) we got to know this about recently after issue a notice by syndicate bank in Paper. we are sandwiched between builder, syndicate bank and LICHFL? LICHFL is telling that builder is not disclosed this information earlier, what should we do now to retain my flat


Asked on 5/16/12, 4:50 pm

3 Answers from Attorneys
ranganathan raghavachari R.Ranganathan & Associates

You don't have to worry about it since LICHFL is responsible for getting legal opinion from the panel lawyers. EC must have reflected the encumbrance in favour of Syndicate Bank. If Syndicate Bank has not registered their rights then it is their own problem. On any account builder has cheated you all and so criminal action has to be initiated against the builder by all the flat owners. The builder will settle the matter if criminal action is taken against the builder.

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Answered on 5/16/12, 6:46 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Besides, LICHFL may also file a criminal complaint against the builder.

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Answered on 5/18/12, 7:37 pm
Shrichand Nahar S.V.Nahar, Advocate

Take suitable civil and criminal recourse to protect your interests.

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Answered on 7/18/12, 2:56 am


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