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Author Topic: Under Construction Property Payment Act  (Read 322 times)

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Offline divesh.jadhav87

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Under Construction Property Payment Act
« on: April 26, 2016, 08:51:04 AM »
Hello Sir,

I booked Under construction property in Mumbai and I have paid 25% to Builder. My property value in 48,00,000 and I paid 12 Lk.
according to agreement I have to pay 15% on plainth.

My Pre-Approve Loan amount is 28 Lk and I asked Builder for NOC for proceed further loan process. But Builder is refuse to provide NOC and he told me to pay balance amount i.e. remaining RS. 8,00,000 and then we will give you NOC for Loan process.

Building is 17 flowers and work is done only Plinth.

Is this demand is correct or wrong?

please advise.

Regards,
Divesh

Offline advkhanna

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Re: Under Construction Property Payment Act
« Reply #1 on: April 28, 2016, 01:56:26 AM »
he cannot give NOC because he does not have all clearance from the govt. it iv
so you have invested on the wrong project.

first find out the legal status of the building under construction.

this is something you may not be able to do. so employ a lawyer pay him to get you all details of this property.

after that is all clear than get ahead paying any further money.

I wish to bring to the notice of all buyers pay a lawyer to get the details of the property before investing.
most people think why shell out few thousand rupees to a lawyer and make huge payments in lakhs to builders ultimately land up loosing a lifetime savings. NEVER INVEST ON A PROPERTY WITHOUT A LAWYERS CONSENT

 

Offline divesh.jadhav87

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Re: Under Construction Property Payment Act
« Reply #2 on: April 28, 2016, 02:39:35 AM »
Thank you sir for your revert on it.

They have all clearance from the govt and same is submitted to Housing loan.

My Loan is sectioned for 28 Lk and 1st Slab payment is ready for payment. But builder told me to pay balance payment i.e. 8 Lk and then we will give you NOC. I already paid 25% and again they are asking for 8 Lk for under construction property.

Is this demand is correct? Building is 17 flowers and work is done only Plinth.

Can you please share your contact number on my email Id so I can given you all details.

divesh.jadhav87@gmail.com

48,00,000/- Flat cost

12,00,000/- Own contribution
28,00,000/- From Loan (Slab Wise according to Agreement sign)
  8,00,000/- Balance Payment
=========
48,00,000

Regards,
Divesh Jadhav

Offline advjaibansal

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Re: Under Construction Property Payment Act
« Reply #3 on: April 28, 2016, 04:28:11 AM »
Dear Sir,

If that is the case and building is not acting as per the payment schedule, then you may need to file consumer court case for getting NOC from the builder. before filing any consumer court case, i would suggest to get a legal notice issued to the builder for NOC.

Regards,
Jai Bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
9868566649
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
mobile: 09868566649

 

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