CA Raja Saha (OFFICER (F &A)) 06 February 2014

Blro mutation

I booked one under construction property in Birati , Kolkata but when I approach SBI for Home Loan,they refuse to give me home loan, since the developer did not obtain BLRO mutation certificate.As per Developer it will take nearly 5 to 6 months to obtatin BLRO mutation certificate & developer agreed to give me BLRO receipt slip instread of blro mutation certificate & according to them receipt slip will be sufficient to approve home loan. But SBI again refused to approve home loan on the basis of BLRO receipt slip.Then again I contracted with developer & then developer assured me to approve his project in SBI within 15 days so that I will get home loan from sbi.

In this situation please suggest me wheather I beleive the developer & wait for 15 days or I wiil claim the refund of my booking money from developer ? Also please suggest me about legal procedure to collect the booking money from developer if they refuse to refund it ?

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T. Kalaiselvan, Advocate (Advocate) 07 February 2014

Have you obtained a legal opinion before entering into sale agreement?, what is the opinion about the property?, If the builder is trying the other tactics to avoid BLRO mutation certificate, the basic records of the property is under the cloud of suspicion, if you feel the builder is not honest, you may cancel the agreement and ask for refund, if he is not refunding, issue a lawyer notice giving the details about his attitude and behavior on the issue you are facing, hence you ask for refund.