POSSESSION OF FLAT NOT GIVEN BY BUILDER
RAVI SHANKAR
(Querist) 09 September 2009
This query is : Resolved
Hello Sirs !.
This is Ravi from bangalore., have few querYS related to a flat which have purchased in Dec 2005 , But the builder has not given possession of flat till today i.e., 9 September 09.
Had purchased a builder's share flat in 2005 December and the same was registered in January 06., and the builder was to have deliver the flat by FEB 2006 as mentioned in sale deed.
Have paid the builder a total of Rs25.5 lacks (Rs4.35 lacs as my contribution and obtained a bank loan for Rs21,5 lacs) . The bank has released this amount directly to the builder by mortgaging my flat original documents and Have been paying EMI from Feb 06 till July 09. and have defaulted EMI payment past two months.
The present condition is that, another party is claiming the title of the land and the case is in hearing stage at revenue authorities.and a stay order is in place.
Since 2006 am behind the builder who has a JV with the land lord and he keeps telling me that the case is strong it will be resolved ,., resolved ., with oral assurances only,
Seek your valuable advise on the following :
1.What should i do to get my money refunded or other actions i can initiate to get my money back / flat ?
2.How can i request for a EMI holiday till the possession of the flat ?
3.The bank had scrutinized the titles etc ., ( had paid processing fee to the bank ) then only the bank had released the money directly to the builder with a tripartite agreement ., how can the bank help me ?.
Thanking you all in advance
Best Regards
Ravi.
riven
Devajyoti Barman
(Expert) 06 November 2010
f the bank is a privatised one then you can make written representation to it for reconsideration of your EMI facilities.
