Property through monthly chit fund
M Kailasam
(Querist) 21 February 2015
This query is : Resolved
Dear Legal Experts,
I paid around Rs. 90000 for purchasing a piece of land ict, in Udankudi , Tuticorine district , Tamil nadu throubg monthly chit fund scheme. from a real estate agent. I am from Tirunelveli district, Tamilnadu. I could not register the purchasing due to some problem. Now I have urgent requirements for money. I requested the agent to return the amount I paid so far. But the agent says he will not return the money and I will have to register the purchasing of land on my name. He says the terms and condition now. Earlier when I joined the scheme. I was not told about these terms.Neither I have signed agreeing for any such terms & conditions.
My question is that is it legal to refuse to return the amount to me if I dont want to purchase the land now. Can I approach consumer court to get the amount returned to me. or Can I approach local police Station to get the money back.Can I write an application to DIG of the both the district. Will it work
Thank you verymuch
With regards,
M Kailasam
ajay sethi
(Expert) 21 February 2015
register land in your name if you have paid for it . after registration you can sell the land if you so desire . you can file complaint before consumer forum . but cases before consumer forum take over 2 years to be disposed of . better register land in your name then sell it
Rajendra K Goyal
(Expert) 23 February 2015
The other party is nice to offer registration of the land now also for which you have paid. You can get it registered and sell it.
So far as legal aspect is concerned even participating in chit fund is not legal.
