Agreement valid proof to lend money
Ishwar
(Querist) 31 July 2013
This query is : Resolved
I have bought flat but builder still not start consturction . he is saying if you given one lac i will return to you 1 lac 75 thousand in 18 month builder required this money for purchase another land for development.
I would like to ask what document is valid for proof for that.he is ready to make agreement stated with i will return 1 lac after twelve months remain next 6 months written on an agreement. shall i invest money.
is it valid proof an agreement for that ?
I am staying at Pune (Maharashtra ) India
Dr J C Vashista
(Expert) 31 July 2013
A registered agreement, motrgage deed in your favour with collectral security and a negotiable instrument to reassure the loan
Ishwar
(Querist) 31 July 2013
you mean to say I can invest money with this deal.
If invest money with agreement.
how much stamp paper shold be ?
ajay sethi
(Expert) 31 July 2013
dont invest . builders are facing liquidity problems . no buyers for flats . better innvest your money in fixed depsoit
Nadeem Qureshi
(Expert) 31 July 2013
Dear Qureist
you should contact a lawyer or investment adviser persoanlly
Rajendra K Goyal
(Expert) 31 July 2013
Builder has not started construction of your bought flat. He is demanding more money with promise of heavy return. Means 50% PA rate of interest. Doubt arises.
Try to get some property mortgaged if you are bent upon to proceed.
May contact some investment adviser.
Best is Bank deposit, return is nominal but liquidity is very high.
