Civil Procedure Code (CPC)

Sale deed rs. 20.64 lk but sale agreement rs.55 lk


Dear Sir,

Sale agreement(flat-under construction) of Rs.55 Lk made on 30/05/2017. LICHFL sanctioned Loan of Rs.42.38 Lk. on 15/06/2017, Rs. 10 Lk paid through bank. Registration formalities done by paying through cash to developer. Sale deed executed on 24/06/2017 of Rs.20.64 Lk. On 27/06/2017,LICHFL paid Rs. 36.02 Lk to developer. All these documented in local language (telugu)- so not under stood, not cross checked & also trusted on developer. Now, there is 2 yrs of delay in possession & not get OC till today. After converting Telugu sale Deed to english medium, I came to know that sale deed value is only Rs.20.64 Lk. I want to know - 

1. Can I  file recovery case/civil/criminals case against developer for collecting excess amount of Rs. 25,38,300 (Sale Deed of Rs.20,64,000 - Bank payment of Rs. 46,02,300) with interest?

2. Can I ask  to LICHFL, based on sale deed value of Rs.20,64,000, why the loan of Rs. 42.38 Lakh granted.

3. Can I inform to LICHFL for not to do any more payment to developer because  developer received more than the sale deed value.

4. Can I approach to rera/consumer court against delay possession with all the benefits?

 
Reply   
 
Lawyer

Q 1 Recovery is a civil case which can also be changed into criminal fraud, cheating and conspiracy compliant case.

Q 2 How much loan did you apply and fair/ marketable value of property under the purchase transaction ?

Q 3 Yes

Q 4 You have both the options

It is better to consult and engage a local prudent lawyer for appreciation of facts/ documents, professional advise and necessary proceeding.


Total likes : 1 times

 
Reply   
 


Advocate

A civil action lies. However, the posting suggests deeper issues.


Total likes : 1 times

 
Reply   
 

Respected Dr. J. C. Vashista Sir,

I am & will ,always, be grateful for taking out your valuable time for answering to my query from your busy schedule.

Q 2 - Loan applied to LICHFL based on Sale agreement value of Rs.55 Lakh ( Land value - Rs.20.64 Lk + Construction Value - Rs.34.36 Lk). LICHFL approved Rs.42.38 (80%) based on Market value of apartment Rs.53 Lakh.

Once again many many thanks a lot to you respected sir.

 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  


 

  Search Forum








×

Menu

Post a Suggestion for LCI Team
Post a Legal Query
Civil Litigation Course     |    x