Hello,
I'm Narender from hyderabad. I thought of purchasing a resale Flat built in 2007 in our nearby locality. So I made a sale agreement with flat owner in April, 2015 and I paid 4 Lakhs as advance. And then I applied for Home loan but all home loans got rejected because so called flat doesn't possess Building Regularation Scheme (or BPS) document. Though owner informed me that he doesn't have BRS/BPS document, at the time of agreement we don't know that BRS document is mandatory for Home loans.
Since all my home loan applications rejected and there is no scope in future that there will be new G.O to reopen BRS Scheme, I asked flat owner to refund my money and to cancel the sale agreement citing the lack of BRS document. But he is not agreeing to that and he said he will return only 3.5 Lakhs.
Please help me or advice me what should I do now ? I don't want to loose my hard earned money.
Thanks,
Narender
