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Author Topic: Regarding property agreement money  (Read 529 times)

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Offline Sumi009

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Regarding property agreement money
« on: February 28, 2016, 01:48:28 AM »
I was planning to purchase a property from a builder in Jabalpur (MP). We had an agreement and i paid 1 lakh rupees to him. The whole property amount was around 60 lakhs but due to some reason i cannot arrange the money and want to cancell the deal. The builder is now refusing to return the 1 lakh rupees i paid him for agreement. The agreement is on 100rs stamp paper and there is nothing mentioned about refund /not refund of money in condition of cancellation of deal. I have tried negotiating with him by offering him % of agreement money but he is refusing.
 Am i legally eligible to claim my money back from him? If yes, then what should be the procedure that i should follow?
I would be really thankful, if someone can help me in this case.

Offline advgaurav.sharma

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Re: Regarding property agreement money
« Reply #1 on: March 01, 2016, 04:20:22 AM »
follow the procedure send him a legal Notice, if that does not work file a money recovery suit.
was the payment made via check or draft. I hope you did not make cash payment
Advocate Gaurav is a specialist in Trademark laws

Offline adv.amarnath

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Re: Regarding property agreement money
« Reply #2 on: March 06, 2016, 01:35:12 AM »
Definitely you have right to claim your earnest money if there is no specific clause of deduction/ penalty of earnest money.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline Sumi009

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Re: Regarding property agreement money
« Reply #3 on: March 26, 2016, 05:14:47 AM »
@Gaurav: We have paid the agreement amount in cash. Can i still send him a legal notice or file a money recovery suit?
Pls reply if anyone else can give input in this issue.

Thanks a lot.

Offline adv.amarnath

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Re: Regarding property agreement money
« Reply #4 on: March 26, 2016, 08:39:41 AM »
Yes, you can send a letter asking him to refund your money. On failure go to consumer forum as builder and purchaser relationship is deemed to be trader and consumer. You will get back your money within 2 years with interest, compensation and cost of litigation. If you seek for money suit then you have to wait for next 5 to 7 years to get it.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline adv.amarnath

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Re: Regarding property agreement money
« Reply #5 on: March 26, 2016, 08:43:57 AM »
If you like my advice, please hit on applaud just right hand side of this post.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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