Builder absconded can loan amount be transferred to landowner

Question

Builder absconded can loan amount be transferred to landowner

07-Jul-2023 (In Civil Law)

Hi, I have bought a house in chennai. But the builder didn't complete the project. He has absconded. The landowner with whom the builder entered into a JV is now building the apartment. Can I redirect the balance loan amount from LIC housing finance to landowner instead of the builder to build my house and get the possession of it? Please suggest.

Answers (2)

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Advocate K. Venkatesan LawRato · Accepted Answer · 2018-07-09T12:24:01+05:30

Answer #1

Of course you can redirect the loan to the present builder / owner provided you have to give a complaint in the nearest police station. You have to send legal notice to the old builder to his known address and if possible you can give a paper advertising regarding this after that if the builder has no response you can enter into an agreement with the landlord and do the needful. If you want any more information please contact me.

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Adv. K. Venkatesan Adv. K. Venkatesan

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Advocate D Parthibhan LawRato · Accepted Answer · 2018-07-10T15:08:39+05:30

Answer #2

Hi sir madam. You told buying house by builder so now he is absconding mean you can file criminal or civil case against him otherwise no option

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Adv. D Parthibhan Adv. D Parthibhan

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