Naveen Gawande (employeed) 17 August 2018

Illigal floor illigal bank loan

Dear Sirs , I brought Property in Nagpur 10 years back from renowned builder, Bank Loan was taken from IDBI , 2-3 years back i came to know , builder was has permission up to 5th floor , my flat is on 6th floor , hence my apartment become illegal , due to those issues water connection ,street lights was not provided by municipal corporation as property area belongs to gram Panchayat , when i tried to sell property , no one is willing to buy it , in case some is ready , registration is not allowed and no banks are giving loan on such kind of property . i am paying 25000 PM EMI since inception . i tried to escalate it to IDBI bank ,but no response at the same time they are calling for EMI and if dues are there they are sending NPI notice to me . at such juncture what will be the legal advice considering 1- property can not be sold as registration is not allowed 2- due to point 1 property rates are too low than the investment it self 3- i am paying EMI even though i was clear about property status since last 2-3 years 4- even tried to give property on rent , rents are too low due to lack of access and amenities issue and end of the tenure most of the time i have to pay by my own for electricity bills and maintenance ,hence stopped renting property my wish 1- is there any way to sue bank and builder ? 2- is there any chance of getting compensation for this harassment from bank or builder ? 3- can i get relaxation on EMI till the property become legal ? please help me out

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3 Replies

Adv Deepak Joshi +917017821512 (Advocate) 17 August 2018

Dear querist,

1. You can file case of fraud of against builder and may claim compensation from him.

2. You may file complain to RBI and Banking Ombudsman about the branch as how they give you loan on illegal property.

3. Their cannot be any relaxation in EMI as it is legitimate debt you have to pay it.

Thanks and Regards

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

Kumar Doab (FIN) 21 August 2018

'Buyer Beware' applies to property deals.

It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/consumer/DRT matters and well versed with LOCAL applicable rules/laws e.g; Urban Land Ceiling Act/ Corporation- Nagarpalika- MC rules/ Maharashtra Ownership Flats Act / Development Control Rules/ Non Agriculture permission Rules/ building bye laws/rules/ Regulatory Authortiy Rules, and well versed with provisons/precedences in criminal cases pertaining to breach of trust-contract/cheating etc and having successful track record…. and worth his/her salt , before signing or making payment.

This may cost some FEE but can defend long term interest and hard earned monies.

Kumar Doab (FIN) 21 August 2018

Had you obtained proper written legal opinion on clear and marketable title, approvals etc you would have saved yourself from deceptive practices/unfair practcises and your long term interest and avoided putting your money in such deal.

Usually banks declare in brochures, loan offers that borrower has to bear the cost of legal opinion and pass loan after legal opinion. Hope you have the copies.

The lender that has lent the money shall claim re-payment from borrower irrespective of the grievances being vent by borrower.

Due diligence is the resposnsibility of borrower.

Your own very able LOCAL counsel as suggested above, after examining all docs and records e.g; advertisements to sell building, agreement to sell/sale deed, evidences for cntructions without approval, fraud in booking, etc etc can opine on remedies thru civil/criminal/ consumer court.

Try if builder agrees to get the floor regularized (if and only if possible), or fefund the costs..

For anything you contemplate prefer proper legal opinion as already suggested..