Hi Rajesh Sir, I have posted d question and u have responded. However, builder has done this loan ke

924 votes

Hi, further to my earlier response, I need some information with respect to your query. Seek inputs: However, builder has done this loan keeping our kyc to get d loan for further construction and it is agreed that builder itself will pay d EMI wen I have given my KYC now he's taking back and saying as u need to pay d EMI also it is under tripartite am not much financially strong. - Is there any written contract between you, builder and the bank on the tripartite agreement. May I know which bank has sanctioned the loan. Also, today I have visited the flat and investigated on d rate of per square feet found that it is abt 3 to 3.5k it will comes abt 50L almost. But as per bank valuation they have sanctioned abt 85L.. - What is the Valuation report confirms on the value of the property. Based on that and your earning capacity(Income) bank sanctions the loan. This needs to be verified with available documents. Builder itself has done down payment from his account to my account and from my account to builder account as proof for down payment.. but now ultimately who r all involved have gone nobody in the structure. Builder said as I have taken d flat interestedly so I need to pay d EMI - Is there any written agreement for such transactions between both of you. Need all the transaction history details to deal with the case. .. Need ur help on this..!! - Please approach me for assistance in this regard.

Advocate Rajesh Kumar K LawRato

629 votes

What all builder said and what is he doing now are not binding on any of you except what all you have written down on agreement papers and signed. Banks usually make all necessary terms on their paper and if you have signed you are bound by it. So it is what you people have signed that becomes binding finally on you all.

Advocate S.K Prabhakar Shetty LawRato