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Is under construction property investment safe how to get money back
06-Jul-2023 (In Property Law)
In 2016 January I purchased a flat for investment purpose by paying full cash up front, from one of the builders in Hyderabad (Planned to sell the flat for profit after completion of the construction, this was an oral promise by the builder). But I have not registered the flat on my name, just took the sale deed (just to escape registration charges). Builder has sold the flat 4 months back and started to trouble me in giving my money back. (One of the points in “Sale Deed” tells “Vendee” should register the “sale deed” in 45 days). Please specify my legal rights in getting my money back with profit or at least my initial investment. What should I do?
Since the sale deed of the flat is not registered, the sale deed becomes null and void, hence you are not the owner of the flat. Hence, the Builder sold the flat to some third party.
You have only two options now. (1) File consumer case for recovery of amount along with damages (2) File criminal case against the Builder for cheating and doing fraud. Since your case is complicated, you contact me through Lawrato. I will guide you properly.
You have only two options now. (1) File consumer case for recovery of amount along with damages (2) File criminal case against the Builder for cheating and doing fraud. Since your case is complicated, you contact me through Lawrato. I will guide you properly.
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Adv. Ravinder Pasula
Hyderabad | 100+ Answers
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