purchased a flat but there is quarrel between builder and landlord
I PURCHASED A FLAT MEASURING 680SQFT IN A COMPLEX BUILDG NO 5 DOMBIVILI WEST FROM THE BUILDER GANESH CONSTRUCTIONS WHO ARE 10 PARTNERS ON 18/08/2009,UNDER AGREEMENT I HAVE PAID 4,50,000/-INCLUDING STAMP-DUTY AND REGISTRATION.THE TOTAL COST GOES UPTO 16,00,000/- FOR WHICH I HAVE BEEN GIVEN PROPER RECEIPTS BY THE BUILDER AND THEN I APPLIED FOR LOAN WITH HDFC FOR THE REMAINING AMOUNT AND THE LOAN WAS SANCTIONED BUT TILL DATE THE LOAN HAS NOT BEEN DISBURSED AS THE PAPERS ARE YET TO BE SUBMITTED BY THE BUILDER TO HDFC. THE BUILDER SAYS THERE IS A PROBLEM BETWEEN BUILDER-PARTNERS AND THE LAND LORD-BROTHERS.THE BUILDER WAS SUPPOSED TO HAND OVER 5000 SQFT AREA TO THE LANDLORD AND THE AREA HAS BEEN GIVEN TO THE LANDLORD BUT HE AND HIS BROTHER ARE NOT SIGNING THE AGREEMENT NOW WHAT SHOULD I DO? HOW DO THE BUILDER SOLD THE FLAT TO ME AND HOW DID IT GO REGISTERED WITH DOMBIVILI REGISTRAR WITH THE CONSENT OF THE LANDLORD,CAN THE LAND LORD CLAM THE PROPERTY IN FUTURE SUGGEST THE REMIDY;;;;;? IS THE PROPERTY LEGAL IT IS A BIG COMPLEX.?
Re: purchased a flat but there is quarrel between builder and landlord
Hope you know about it that generally actual cost of flat is shown much lower than what they charges from customer. Though they charge you amount legally but generally on paper cost of flat / property only costs 1/2 of the payment you give, rest they charge for enhancement or some facility etc. That way they save taxes etc.
Anyways, I don't know if above fact has to do anything here. But may be its the reason its been registered as actual cost is already paid (May be) . Did you ask bank what kind of paper its seeking from builder ?