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Q. Flat cancellation Loan repayment to Bank

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Rajesh V

posted 1 year ago

Q.Flat cancellation Loan repayment to Bank
I gave booking advance 1lac thru cheque and processed home loan from Indian bank for 20 lakh. Loan got approved and bank also dispersed 14lakhs out of it without even UDS registration & construction agreement Registration and MoD processes. I wanted to cancel booking due to my situation.Sent cancellation and closure request letter to bank and builder seperately. Bank Manager says I have to get 14lakhs from builder repay along with interest and preclosure charges. If builder refuses to repay what is the way out? How to approach this to close legally and correct without affecting my credibility and without spending money from my end. I don't have possession or ownership on that property. I have not enjoyed it's ownership and no returns/income from that. Still under construction for past one year. Pls suggest.

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Kishan Dutt Kalaskar Retired Judge

Experience: 34 Year(s)

Responded 1 year ago

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A. ) Dear Sir,
Get issue a legal notice and then approach Consumer Forum
For full procedure contact me on mobile through Vidhikarya.
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Sunil Kumar Singh

Experience: 18 Year(s)

Responded 1 year ago

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A. ) Dear Sir Payment should be refundable,try to settle amicably,Refuse Send him demand notice claim for the same in civil & consumer court
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Rameshwar Dadhe

Experience: 4 Year(s)

Responded 1 year ago

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A. ) If builder denying . Then go to the counsumer forum or file case against the builder

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