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Paid advance towards property how to get it back
15-Nov-2023 (In Property Law)
Hi Sir, We actually paid an advance amount to a land in Bangalore. Market Value for this land is >100% of actual governament value. But now after hearing the Modi's decision of banning Rs 500 and Rs 1000 , we saw several news in TV9 that land rates (Market Value) will go down drastically to 10 to 20% of governament value. We even heard this from GV Reddy in TV9. He suggested everyone not to purchase any land as of now. After hearing all this we dropped in purchasing the Land as we will fall into loss if we purchase this. We informed the same to the buyer. Now he is not ready to give the advance back to us. Can we go legally for getting our advance back? Please suggest us with more ideas on reverting our advance amount. Thanks.
Send him a legal notice. Try to bargain with him. if he agrees on a bargain well and good. If he doesn't budge. File a consumer complaint or file a civil suit for recovery of money. you have to pay court fee and Lawyer fee but that's the only way for recovery.
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Adv. Praveen Pinto
Mangalore | 25+ Answers
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