quesEquitable mortgage amount clash

My bank financed an amount of Rs.28,50,000/- for my building but my builder is registering the sale deed for Rs.30,40,000/- and the actual sale of the property is for Rs.32,50,400/-. For what amount equitable mortgage should be to be created?

  • ansWhat the builder is doing is totally illegal and liable for prosecution. You are advised to get the sale deed registered at the agreed amount and the paid amount to the builder. The Memorandurm of deposit of title deeds should be created at at the loan amount.

    If the builder refuses to execute the registration of the deed of sale for the said amount, then you can approach the court.

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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