KISHOR BANTE (DEV.OFFICER) 17 February 2012

Error in registered agreement to sale

Dear Sir,

I have purchased a flat from a builder. The land belongs to the family of builder where they made the apartment. In the registered agreement to sale they had written that they made an agreement empowering one of the family member to look after the building construction and development. In fact no such agreement exist.

Being LIC employee,I put the loan case in LIC Housing Finance Office at Nagpur as we get the loan at subsidized rate. LIC-HFL want that agreement copy which the builder can not provide. Now the builder want me to go to other bank or HDFC where they do not need such agreement. Sir I have spent lot of money for LIC-HFL loan case. Please guide me as the builder is forcing me for payment at the earliest as LIC-HFL has taken too much time to call for the requirements.

Kishor Bante

Chandrapur, Maharashtra

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5 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh) 17 February 2012

A loanee has to fulfil the requirements of the bank so you have no other option but to follow the guidelines of LIC in the given case. The biolder can be asked to get prepared an agreement from his family memmbers qua the land over which proposed building is to be constructed so that the formality may be fulfilled.

KISHOR BANTE (DEV.OFFICER) 18 February 2012

Thank you Raj kumar Sir, But can the agreement be made after 10 years after the building is actually built.

My agreement to sale says "------------ agreement was made on 13.08.2001.(Which is false/mistaken)"

Actually all initiatives to construct the appartment was done after Jan-2011.

KISHOR BANTE (DEV.OFFICER) 18 February 2012

What shall I do if he refuses to make such agreement postfacto?

advocate rajan pandurang joshi (Proprietor) 19 February 2012

Your query seems to be that can the Builder insist to perform your part of contract when he himself is not in a position to furnish the relative documents demanded by the financial institution. If my assessment is correct then my reply is as a Vendor, the Builder would be bound to meet the requirements of the financial institution. If the Builder is not in a position to meet the requirements of the Financial Institution or Banks, as long as he is defaulting, he will not be in a position to terminate your contract and refund your moneys (since prices may have increased since you entered agreement). You have an option to seek specific performance by calling upon him to produce the document, the second option is to move to Consumer Forum and the third option is to terminate the agreement and seek damages besides the amounts paid with interest.