Property

Querist : Anonymous (Querist) 07 July 2021 This query is : Resolved
Sir I have pledged the property and barrowed rs.60 laks with an interest rate of rs.2.5 and property got registered and mutation and pani also due to pandemic situation I didn't paid interest amount now I'm ready to pay principal and interest amount but lender is asking to pay sub interest so legally how can I get back my property guide me after registration only I got money

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Advocate Bhartesh goyal (Expert) 08 July 2021
Settle the matter amicably else you have to file suit for redumption of mortgage of property to get redeem property before civil court and that will be not only expensive but time consuming also.

Dr J C Vashista (Expert) 08 July 2021
Amicable settlement may be preferred to restoring legal option which would be disastrous for you.

P. Venu (Expert) 08 July 2021
What do you mean by interest rate of rs.2.5? So also, what is subinterest? Is the true version of the money borrowed as well the interest reflected in the mortgage deed? What are the terms in the deed as to redemption of mortgage?

kavksatyanarayana (Expert) 08 July 2021
It is better to an amicable settlement. But what are the terms and conditions of the mortgage?

T. Kalaiselvan, Advocate (Expert) 14 July 2021
The lender taking advantage of the situation may come out with new plans to extort maximum money from you in the name of the different kinds of interests involved in it.
Therefore you may either arrive at an amicable solution by negotiations or can approach court with a suit for redemption of mortgage.

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