Legal Question in Real Estate Law in India

I have purchased a house. Pre EMI for 30 lacs was going on for a period and EMI towards the same started recently. When it came close to the end of construction, I had to pay a balance of 3 lacs to the builder which i could not arrange and went to another bank for top up of my housing loan. New banker after a process of 1month told he could not sanction the loan as the approval area in CMDA and really constructed area was not similar and the plot no. also differed. Can you tell me whether to go with completing the purchase process as the key is still pending with the builder and will hand over only upon payment of this 3 lacs or to drop this project.

Thanks & Regards,

Srinivasan


Asked on 9/15/09, 2:30 am

1 Answer from Attorneys
Seshadri Srinivasan www.lawconcern.com

You can ask your builder about this alleged deviation and if true, then demand by notice to return your money with interest and mental agony.

If on the other hand the approval is correctly obtained and there has been no deviation in construction You must issue legal notice to Bank for refusing the loan with mental agony etc.

S.Seshadri

Phones: 98403 20808 /28515229

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Answered on 9/15/09, 10:14 pm


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