Propery possession yet to receive after 5 years
2 years ago
Dear Sir/Madam, I bought a flat in Supertech Ecovillage Noida in 2015 in subvention scheme. As per the allotment letter, it sates that the possession date was in May 2016 which can have another grace period of 6 months. However I have not received possession of the same. The plastering of the building is yet to start. My subvention loan is in Indiabulls bank who suddenly changed their loan interest rate to 13%. I want to know can I foreclose the loan as its a huge EMI which is going for me. Even if I want to put up legal case would it stop my EMI or I have to pay bank at any cost. Also I want to know about my credit rating if EMI is stopped. Some in my society has put up a legal case against Supertech but in vain. Either the builder is not paying money or case is still pending. Wanted your guidance, at this time would it make sense for me to foreclose the loan or it can have any impact if builder doesn't give me possession and I have to put up a legal case?
Ayantika Mondal @ Prime Legal
Responded 2 years ago
Yes, since the property has not been passed over to you, you have a valid legal case for this potential. You can file a claim for possession of the property with the local civil court.
Thank you very much. Kindly rate the answer
Yes, you have a legitimate legal case for this prospect since the property has not been handed over to you. You can reach out to the nearest civil court for claiming the possession of the property.
Thank you.
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