Respected Attorneys, I need you help here. I have purchased an appartment in Banagalore from a builder. I have paid in full and received all the payment receipts duely signed across revenue stamp. Also received unre-gistered Sale Agreement (land) and Construction Agreement from the builder on a 200 rupee stamp paper duely attested by the builder. Appartmrnt was completed and handed over to me. Subsequently I have completed furnishing the appartment. When I asked the builder to register the appartment , he is saying that they have to get clearence from HUDCO , before it can be registered on my name. When I entered in to the agreement with builder, builder is yet to secure a loan from HUDCO bank. hence my documents does not carry any info about HUDCO. Later they secured a loan from HUDCO and most of the borrowed amount was re-paid except for 2 crores which is outstanding. Why the builder is talking about clearence from HUDCO when the loan issue was not there when I purchased the flat not its mentioned in my agreement papers. Would like to know how to secure my intrest . Its almost 3 years since I got the pocession of the appartment. What if the builder defaults the oustanding amt to HUDCO, will HUDCO owns the property ? How to counter this?
