Property Advance Return Legal

3 years ago

I paid advance amount 1 lakh for a property(resale property- 4th floor-around 8years) in Hyderabad (Manikonda) on Aug 2020.When Seller met me with the banker, the Banker didn't tell me the property is unauthorized. The seller told that the bank ROI is high(around 11.25) because it is gram panchayat property.so I paid advance amount. But when the banker came to collect the document, suddenly he said it is unauthorized. When I asked the seller he keeps on telling it is 100% authorized, everything is legal. Banker and seller told process the load, the property will be registered.so the loan processed and sanctioned. Later when I checked/called registration office, they said the property has no BRS.so, no registration made for this. Then I called the seller and told to return my advance amount as he lied/cheated to me. Again he kept on saying it is authorized. he paid property tax and he has approved gram panchayat lay out plan and said I cancelled the deal. so he will return only 50000 rupees. He told registration will be done smoothly and in between he reduced some property value amount. After that registration stopped for 3 months. When the registration opened, I asked banker tell me clearly is it unauthorized ? he then said it is unauthorized if no BRS. If BRS there then only authorized. He said seller is applier BRS also and the banker told me to process the loan. I told the banker I don't need this property since the seller and the banker cheated me. I called the branch manager, informed the same and told him to reject my loan disbursement. I got a rejection letter saying that since you are eligible for loan, they sanctioned the loan. But the property is falling under unauthorized floor, they cannot fund the property. After that I called the seller to return my advance amount 1 lakh. Again he keeps on saying his property is authorized . I only told Bank manager to write the rejection letter. Now the seller is saying his property will be registered smoothly and because of me he is loosing so much money. so he will only return 50000. shall I accept this? taking 50000 only and keep silent or I will file a civil case or police complaint. (Hyderabad, Telangana)