Legal Question in Real Estate Law in India
Our house was mortgaged for 7 lakhs in the year 1996 in dravidian benfit fund. since we were not able to pay monthly instalments, they had put a case which had decreed to 36 lakhs in 2008.now the property is worth 5 crores.after 2008,they had put interest in court as six percent.is it for 36 lakhs or 7 lakhs we had borrowed we are able to know.is there any chance to reduce the amount of 36 lakhs and pay in easy instal;ments, on a yearly basis or monthly basis. we had only paid 4 lakhs in person to the borrower i dont think the borrowers will agree to pay in instalments..how to proceed kindly tell us
2 Answers from Attorneys
you may ask your lawyer to do the needful. he would represent you in the court and seek reduction of amount.
See order of court - if it says interest on decretal amount, then it will be so.
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