LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Nitin Kotian (Advocate)     15 August 2012

Bank loan documents required by the builder

My client had booked a flat some 2 years back. However the possession was not given since the builder said that he had made certain changed to the plan which requires fresh approval. During the period he took an amount of Rs 3,00,000/- for which he has issued the receipt for the same.
My client had made it clear that she would buy the flat through Bank Loan.
Now the builder has issued a letter stating that he requires the sanction letter of the bank that the loan is released afterwhich he would confirm the flat number.
My client is arguing that since the builder  has not shown any of the documents ( List of Documents are below) the bank won’t sanction the loan since there is no construction going on.
Pls let me know can I ask for the inspection and Xerox copies of the  below mentioned documents
1)    Proposal Letter of Intent
2)    Intimation of Approval/Dissaproval
3)    Commencement Certificate
4)    Approved Plan Layouts
5)    No Objection Certificate
6)    Ammendments to Approved Plan Layouts
7)    Completion Certificate from Project Consultant
8)    Building Completion Certificate from Licensing Authority
9)    Occupation Certificate
10)    List of Service offered by builder after handover of Apartment, Car Parking, Allocation & Marking
11)    Complete Area Statement with breakup of Common Area.


Nitin Kotian


 4 Replies

ABHIJEET PARIKH (Bcom LLB MBA)     15 August 2012

Yes... Builder should provide but is the bldg ready with plans approved ? u need to carry out proper due diligence and conduct secondary inquiry abt the developer n its project try to find out how other customer r treated esp those availing bank loans

Ur comment is also been answered on FB but there r certain docs mentioned which can be availed on once construction is completed if the work is stoped den there ways to identify reasons behind it 

Do let me knw on FB or here or on advabhijeetparikh@gmail.com if u need further assistance

Nitin Kotian (Advocate)     15 August 2012

Hi Abhijeet,

Thanks for the fast revert and for the help, there are only pillars constructed since the last 2 years and no construction is going on right now.

Advocate M.Bhadra   15 August 2012

Send a legal notice on behalf of your client to the builder asking for documents which your client's need, if he does not comply as per notice then you can file a case in District Consumer Forum against the builder for deficiency of service.You have alternative option to file a suit for Specific Performance of Contract in Civil Court,but best option is Consumer Forum.You can also file a Criminal case against the builder u/sec.420,404 and 427 IPC in a Magistrate Court.

1 Like

Nitin Kotian (Advocate)     15 August 2012


Thanks for the revert, i guess alternatively i can also move to the Co Operative Court under the Maharashtra Ownership of Flats Act 1963 for not giving the possession of the flat. However as per ur guidance the Consumer Forum looks like a conveinient way.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register