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Author Topic: Broker sold me a piece of land at too high price  (Read 314 times)

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Offline yash.dew

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Broker sold me a piece of land at too high price
« on: May 29, 2016, 12:09:43 PM »
I bought a piece of land in Bhilai, Chhatttisgarh from a broker on a trust basis. The cost incurred was 23 lacs rupees. I was so naÔve that I didnít even bother to scrutinize the details back then. Now, when Iím all out to sell this property, I got to know that this is a kind of fraud case. The actual cost of this land at the time of purchase was merely 8 lacs rupees, neither government rate nor private agency rate match up to the cost incurred. Isnít it a fraud case? Also, when I visited Patwari, he is kind of misbehaving and trying to get some money. He is measuring that piece of land again and again and every time he ends up with a different boundary. Iím so pissed off that my hard earned money going to be a waste. Can I lodge a legal case against the broker and/or the owner?

I implore the experts out there to please enlighten me and throw in some suggestions. Thank you in advance!

Offline rajgopal sripathi

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Re: Broker sold me a piece of land at too high price
« Reply #1 on: May 29, 2016, 05:49:06 PM »
Hi
In any contract, the price is agreed between the buyer and seller.
the government rates are only indicative rates.
However you can choose to file a case of Fraud on the broker and seller on all aspects( boundaries, area, possession, price, etc)  of the contract.
Since the boundaries of the property that you have purchased are not known to you or the Patwari,you can file a cheating case /fraud case on the seller and the broker and that way you can recover your money.
Rajgopal Sripathi
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email:rajgopal@legalwin.in

Offline yash.dew

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Re: Broker sold me a piece of land at too high price
« Reply #2 on: May 29, 2016, 09:34:03 PM »
Sir Rajgopal,

Thank you for your advice! I had the same notion that the price is somewhat off the track for court to meddle in. But the same Patwari itself is now mentioning this point again and again that at most you can get out of it now is  8-10 lacs.
However, there is an instance where Banks evaluates the  residential/commercial property before offering a loan on it as a collateral. That means even though government rate is just an indication, they take into account rates from private other government departments and private agencies and find a common ground that is fair.
Can that apply or even sought to apply on agricultural land?
Another request, is it advisable to approach Consumer forum or District Court.

Thank you!

 

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