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Author Topic: Builder had mortgaged flat to DHFL in 2012  (Read 358 times)

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Offline sskrishna7

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Builder had mortgaged flat to DHFL in 2012
« on: March 16, 2016, 09:46:22 PM »
We own a flat in Hyderabad constructed by a reputed builder. We got possession of the flat in 2012 September. We took home loan from HDFC Ltd for the same and the flat is registered in my name. We have been regularly paying property tax to GHMC for the last 3 years. Now, we got to know that the builder had actually mortgaged this flat to DHFL in 2012 May to take loan for his company of Rs. 50 Cr from DHFL. Now, the builder has got notice from DHFL to repay his loans as there has been delay in his repayments. We want to know if this could cause a problem for us if the builder defaults on DHFL loan or there could be enforcement  of mortgage on our flat by DHFL. Will there be any problem for us in future as the flat documents have already been perused by HDFC Ltd and after that only HDFC Ltd sanctioned our home loan in Sep 2012. We have been regularly servicing our home loan and only 5 years are left for closing the balance loan of Rs. 15 lakhs.

Offline adv.amarnath

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Re: Builder had mortgaged flat to DHFL in 2012
« Reply #1 on: March 17, 2016, 08:54:12 PM »
Your matter is very serious. You should send a notice to developer for his improper act and according you have to file a civil case  against the developer to secure your money. You can also seek consumer forum help.

You can contact me for detail advice.

Amarnath Sanyal
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Mob - 09830303322

Offline rajgopal sripathi

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Re: Builder had mortgaged flat to DHFL in 2012
« Reply #2 on: March 18, 2016, 06:58:29 AM »
You do not need to worry on the following grounds:

a) It is the fault of both Builder and DHFL for permitting selling the flats to public when the property is under mortgage with DHFL.
b) Also, when the property is mortgaged to DHFL how will the the sub-registrar office permit registration of sale deed in your favour? So there is something which has happened between DHFL and Builder which we are not aware..

For your information, whenever the builder mortgages the properties to financial institutions, it is the duty of the financial institution to issue No-Objection certificate to sell a flat to the  buyer before registration and only after receipt of No Objection certificate, the registrar will register the property.

So, i request you to kindly check whether DHFL has issued any NOC in your favour/ builder favour before registration ?

Even if there is no NOC, you dont need to worry because, DHFL has not looked in to the matter and complained to you or builder within 3 years of the registration. so law of limitation will apply for DHFL to proceed against you.
Rajgopal Sripathi


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