home registration cancellation
Querist :
Anonymous
(Querist) 03 July 2010
This query is : Resolved
Dear sir,
I had booked a flat with lodha builders in mumbai about 1 and half years back. While booking they had ensured me that I will get the loan for the property. But due to some fault from builders side the loan was not sanctioned. And after 6 months I was informed about this. After that I tried to apply loan in different banks but most of them due to agreement expiry over 6 months period rejected the file. And now finally I have been informed that I have to pay the penalty about 24% anually of the property value to the builder. I don't have this much fund with me.
I am now looking to cancel the registration of the flat. Please tell me whether I will get the money refunded for registration and stamp duty cancellation ?
Regards,
Devajyoti Barman
(Expert) 03 July 2010
The terms and conditions of the agreement of sale needs to be looked into. Generally for cancellation of loan the developer can not be held accountable but at the same time if it is found that it was because of the developer's intentional non feasance the loan was cancelled and the developer also wanted it so that he could increase the price in the meantime then a complaint could be lodged before the Consumer Forum.
Querist :
Anonymous
(Querist) 04 July 2010
..Thanks a lot for the reply. But I don't want to fall into any kind of mess because i can't give much of my time into this as I am doing a regular service also neither at this point I don't have anything in written from builder that they had promised me for the loan. It is now almost one and half year after registration.I just want to get out of this by cancelling the registraton and stamp duty. So kindly could you tell me whether I will be refunded for this or not ?
