Gunthewari
Querist :
Anonymous
(Querist) 03 December 2011
This query is : Resolved
Hi
I am planning to buy a old bunglow in Pune but owner said it is gunthewari . HDFC and ICICI bank refuse to offer loan whereas Cosmos bank is ready to offer loan. What document should i check with builder? Will it be problem to sell such property in future?
rgds,
Yogesh varma
Ph : 9998957901
prabhakar singh
(Expert) 03 December 2011
Gunthewari suggests that Government has arranged it by some penalty or stipulated condition due to some violation caused by holder of land and it does not have clean title to be conveyed on its sale.That is why
Banks are reluctant to grant loan as title would be not freely marketable.
ajay sethi
(Expert) 03 December 2011
dont buy it . if title is not clear no nationalised bank or pvt sector bank will give loan . you will be stuck with the property or will have to sell it at a discount
ajay sethi
(Expert) 03 December 2011
have already replied to query earlier
Querist :
Anonymous
(Querist) 03 December 2011
Sir,
Thank you for your prompt rply.
but i have some other question also :
01. That what is your suggection , May i Buy the house or not ?
02. what type of document to be obtain from govt. body to sale propety sale in Future ?
03.At present market vaue of Property is 3900000 lcs but he is saling me only 3000000.00 lcs.
04. India bull finance company was ready to give me loan to purchase the property . may i take loan or not ?
Tks n Best rgds,
Yogesh varma
ajay sethi
(Expert) 03 December 2011
if title to property is not clear dont buy said property . the fact that HDFC bank , ICICi bank refused you laon on said property indicates that you should avoid the said property .
the fact that seller is offering you rs 9 lakhs discount to market value is clear pointer to road ahead . if you buy and subsequently try to sell it you may be in same predicatement
Querist :
Anonymous
(Querist) 03 December 2011
sir,
SOME DOCUEMNTS ARE PENDING WIHT OWNER AS REQUIRED ICICI BANK & HDFC BANK TO ISSUE LOAN . THEY SAID WE REQUIRED DOCS U CAN PROVIDE THEN WE CANT PROCESS YOUR LOAN.
I HAVE ALREADY APPROCHED OWNER TO PROVIDE OTHER DOCS WHICH IS REQUIRED BY BANK. IF
HE GIVE US & BANK ALSO SAY OK. THAN CAN I GO TO BUY THE PROPERTY ?
Owner was saying my docs are all clear no promblem for appling the loan.
rgds,
Yogesh varma
prabhakar singh
(Expert) 03 December 2011
Even grant of loan is not a guarantee of marketability of property.It appears you are very much eager to buy it.
The due diligence is buyers duty and not of bank.I advise you to visit a revenue law lawyer in Pune to understand the defects in such a property.
ajay sethi
(Expert) 03 December 2011
as advised to you telephonically it is better to avoid such property . the fact that seller is giving you property at 30%discount is clear indication about the defective title tot he property .
ulimtaely it is your call
bhagwat patil
(Expert) 03 December 2011
If you don't want to sale the propery in future you can proceed but it is not marketable title.
Anirudh
(Expert) 03 December 2011
Mr. Anonymous seems to be bent upon buying that property in spite of advice against the same by experts.
Perhaps, Anonymous has some extra money in his hands which he wants to waste by purchasing the property, which according to him comes to him Rs. 9 lakhs cheap! Anonymous forgets that he will be ultimately losing the entire Rs. 30 lakhs. If the time of Anonymous is VERY BAD, any number of Experts cannot save him.
M/s. Y-not legal services
(Expert) 04 December 2011
mr.yogesh.,
while the property worth is in lakhs, you just consult an advocate with necessary documents. by PAYING HIS FEE
prabhakar singh
(Expert) 06 December 2011
@Dear Tom!
Mr. Bhagwat Patil is from Pune and has a vast experience of properties in Pune as he deals daily in these matters,it would be throwing of money if questioner does not rely him also.
