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Nagendra*** (Manager)     29 November 2011

Appartment registration issue

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?


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