![EMI payment when possession is not done [Subvention Plan]](#)
EMI payment when possession is not done [Subvention Plan]
3 years ago
I purchased a property under subvention plan in 2016. Possession date was 2017, but till date possession has not been given by the builder. I am unable to pay the EMI. how can I get a stay on EMI payment. Builder has a penalty cause for delay possession, and EMI payment untill possession, But builder has failed to make any payment.
A.Dear Sir,
Get issue a legal notice and also request the Bankers to stop taking EMIs.
Rate me Five Star*
Get issue a legal notice and also request the Bankers to stop taking EMIs.
Rate me Five Star*
Helpful
Helpful
Share
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Approach civil Court and claim damages for the builder's delay in delivering possession. Until it has been handed over, you do not need to pay any more EMIs, you can get a stay order on this as part of your suit for damages. Once you have been granted the award, you can use that amount to pay the remaining EMIs once you have been given possession.
If you found this helpful, please rate us.
Approach civil Court and claim damages for the builder's delay in delivering possession. Until it has been handed over, you do not need to pay any more EMIs, you can get a stay order on this as part of your suit for damages. Once you have been granted the award, you can use that amount to pay the remaining EMIs once you have been given possession.
If you found this helpful, please rate us.
Helpful
Helpful
Share
A.Hi,
You can approach civil Court with your agreement and claim damages. You do not need to pay any more EMIs until possession has been granted. Once you receive an award for delay in delivery, you can use that amount to pay your EMIs.
If you found this helpful, please rate us.
You can approach civil Court with your agreement and claim damages. You do not need to pay any more EMIs until possession has been granted. Once you receive an award for delay in delivery, you can use that amount to pay your EMIs.
If you found this helpful, please rate us.
Helpful
Helpful
Share
Read Related Answers
Personal Loan Settlement
Dear Client,
You need to adhere to the payment of EMI and interest rates as provided by the financial corporations to settle the loan amount. In case of a financial crisis, you can contact the manager...
Home loan for Gifting deed
Dear Client,
Once a donor or owner of the property gifted the property to the donor through a registered deed of gift, the property becomes the self-acquired property in the hand of the donee who beco...
Car loan
Dear Client,
Once a borrower fails to repay his debt, the Lenders/FIs initiate a routine course of action for recovery of the loan/debt from the borrower. You may negotiate or settle your dues agains...
CKYC for Bank Account of ABC Tenants Group
Dear Client,
An association is a body of individuals and an association is required to be registered under the Societies Registration Act to make it a legal entity to apply for PAN. So when you are o...
Bank ke dwara 13 2 ka jawab nahi Dena
Dear Client,
According to Section 13(2) of SARFAESI Act, the borrower is required to repay the outstanding dues within 60 days from the date of the notice. If the borrower fails to comply with the not...
Read Blogs on Banking
Banking Lawyers
Find Lawyers by Location
