Respected Seniors & Members,
In October 2014 I entered in a Bayana Recipt/Agreement with a Builder for a 28 Sq. mt. freehold property in Rohini Delhi whereas i have booked two floors 2nd & 3rd floors.
That the sale consideration of the property was settled of Rs. 50,00,000/-. Out of the total sale consideration I have paid the earnest money/advance amount of Rs. 4,50,000/- in cash and this amount is mentioned in the Bayana Agreement.
That as per the terms and conditions Agreement to Sell the date for execution and registration of the sale deed was fixed on or before 14th February 2015. At the time of Bayana i have inform(orally) to the builder that we required a Home Loan for this deal and Builder confirm me that Loan available on this property. Thereafter we applied for loan of Rs 3400000/- in ICICI Bank and Bank initially issued Sanctioned Letter and demand approved Map of the property from us. When we demand the same from the Builder he replies No Approved MAP for this property. Hence due to this Unapproved construction ICICI Bank rejected my loan with remarks unauthorized Construction/Unapproved MAP . I have conveyed the same to the seller and ask my money back as due to unauthorized construction the Loan is not available on the property.
Now The Builder asking to me that he will arrange Loan through a Agent with 8% Loan Amount Money and pressurize me to take Loan from this agent, if i do not take loan from this agent he will not return my money. But i am not in that position to give such amount also i am afraid to purchase this illegal contracted property.
I am under huge mental pressure for the lose of my money. I will appreciate if you could let me know what I should do. Would be it be advisable to file a case in the court?