Rajiv 14 February 2018

Builder buying time delaying registration

I have purchased a flat in nov 2017 from a builder through a broker. This flat is investor flat and builder said he has some arrangements to sell investors flat. i paid him cash for which he gave receipts and fitouts letter. now the investor says till he gets his loan money from builder he will not sign the agreement. and also the property prices have gone up so he doesnt want to sell. its been 3 months now the builder is saying he will get it registered. what can be done in this sitaution as i heard its difficult to get the money out from builders due to their contacts and power.

i also have signed MOU from the builder.

please give me some suggesstions.

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6 Replies

R.Ramachandran (Advocate) 14 February 2018

Many vital material particulars are missing in your post.

You have to necessarily get in touch with a lawyer well versed in property matters, show the documents in your hand, discuss the matter in detail with him and then take appropriate action.

Rajiv 14 February 2018

thank you for your reply..

Kumar Doab (FIN) 14 February 2018

'Buyer Beware' applies to property deals. It shall be appropriate to get proper legal opinion from a very able local senior counsel of unshakable repute and integrity specializing in revenue/property/civil matters before signing or making payment. This may cost some FEE but can defend long term interest and hard earned monies.

Kumar Doab (FIN) 14 February 2018

Has owner given any rights to builder to sell/collect proceeds on his/her behalf?

Apparently broker, builder, owner………none of them are inclined to provide any relief desired by you.

And property prices have gone up and loan money as posted by you is involved…………..and many more …unending statements may come out.

If you have your money in your control you can buy any property.

This time approach a very able senior LOCAL counsel of unshakable repute and integrity specializing in such/civil matters and having successful track record…

Next time be careful.

Appraise yourself with RERA and state RERA rules….

Rajiv 14 February 2018

Hi Sir, thanks for your reply ..will the cash receipts , MOU and fitout letter will help me in my favour ? MOU states that builder will give another flat in same building if not this one ..Builder is RERA registered ..

spraybedbug@gmail.com 15 February 2018

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