Hi Everybody,
I need to know the legallity of the following situation.
Mr. A is the owner of a site in bangalore allotted by a *** employees association.
In the sale deed executed by the ** employees association to Mr.A, tells that 10 years from the date of sale deed execution cannot be sold to others nor leased. If done, the *** employees association can take the possession of the site.
Mr. A died and his legal heirs wife Mrs.x, son's Mr.y , Mr.z and daughter Ms.g (unmarried) gets the khata in their names of the same property.
Mr. B executed a sale agreement with the legal heirs and paid 5 lacs and it is registered agreement. Stamp duty is also paid. In the agreement, it is mentioned that, the sellers must obtain NOC from the association and then only final registration will be done by paying remaining balance. If the contract is not fulfilld with in one year from the date of agreement then seller must return the 5 lacs with additional 5 lacs to the purchaser.
The NOC from the *** employees association is pending from past one and half year. Now, the sellers are not attempting to get NOC and also sent a lawer notice to Mr.B [purchaser] stating that they are not willing the sell the property and they are ready to pay the interest on 5 lacs. But Mr. B is not ready to accept this offer because he wants the site for his own purpose and land value is also increased substatially.
Now, what is the position of Buyer (Mr.B)
a) can he get the site by fulfilling the remaining contract amount directing by the court?
b) will he get back the 5 lacs paid as advance amount with the compensation of additional 5 lacs as mentioned in the sale agreement as a clause.
c) will ge get 5 lacs with a interest on 5 lacs only. if so, what will the rate of interest .....
Please advice me
