Urgent - Purchase of Property (Others)

This query is : Resolved

Author : CA Santosh Chinchkar.

PRO CHAT CALL

Posted On 11 July 2009 at 11:50

One of my client had purchased the house in new construction at Rabale. He has paid advance of Rs.3 lacs to Builder. Afterwards, it was found that it was unathorised constrcution.Now he does not want to purchase the same. Builder will give 3 post dated (6 months) cheques of Rs.1 lac each in exchange of Stamp paper (Agreement for sale) & advance payment receipts. What should be legal course of action for the same. Shall he should return that Agreement & advance payment receipts? What if Cheqes are not cleared after 6 months?

Expert : Khaleel Ahmed

PRO CHAT CALL

Posted On 11 July 2009 at 12:14

Hold the agreement with your client with the endorsement of the cancellation of sale agreement and details of cheques issued in this regard till cheque are not cleared.

Expert : A V Vishal

PRO CHAT CALL

Posted On 11 July 2009 at 13:18

Dear Santosh

Don't return the agreement of sale without the PDC getting cleared, in case the builder refuses to acede to your demand then take in writing that the PDC's are issued in lieu of the cancellation of the sale agreement due to fact that the construction is unauthorised. Further mention the advance receipt numbers in the document and take xerox of all the docs that are being returned to the builder including the sale agreement and the advance receipts.

Expert : PALNITKAR V.V.

PRO CHAT CALL

Posted On 11 July 2009 at 14:26

In fact you should file a case of cheating. As suggested by Mr. Vishal and Mr. Khaleel, do not return the agreements unless the cheques are cleared. If the cheques bounce, you should file 138 proceedings.

Expert : adv. rajeev ( rajoo )

PRO CHAT CALL

Posted On 11 July 2009 at 15:34

Already PM is sent to you.

Expert : SHYAMSUNDAR

PRO CHAT CALL

Posted On 11 July 2009 at 17:17

Rightly advised by Mr.Khaleel and Vishal.
At last you got an option move the court if the cheques are dishonoured.

Author : CA Santosh Chinchkar.

PRO CHAT CALL

Posted On 06 July 2010 at 17:59

We had returned the original Agreement & Advance receipts to Builder and in lieu of that we had taken the 4 Post dated cheques. All cheques has been bounced. Now Builder is not responding to calls also. Kindly suggest the way forward.