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Author Topic: RE-PAYMENT OF PURCHASED FLAT FROM GOVERNMENT BODY  (Read 402 times)

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Offline pvasunitr

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RE-PAYMENT OF PURCHASED FLAT FROM GOVERNMENT BODY
« on: July 01, 2016, 01:03:36 AM »
Dear all,
Please help. We purchased a 2 BHK flat on 1998 at Raipur which cost us Rs4.5lac from RDA i.e. Raipur Development Authority (a state govt. body). We paid Rs2.5lacs in instalment till the death of my father. Since the package includes EMI with zero % interest, we have to pay remaining 2lacs. Since we could not effort the EMI after my father's death, we skipped paying it later. Now we are in good position to pay the remaining amount. Considering the penalties RDA asked us to pay the amount of Rs30lacs or vacant the house within 3 months. The market value of property is Rs30-35lacs considering the age of building. Since we paid half amount of the total cost we are expecting the re-payment cost to be nearly Rs15lacs max. We are in trouble since we got the notice period of three months. Please help or suggest what to do?

 

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