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Clarifications on home loan on NPA assets by bank


30-Nov-2023 (In Landlord/Tenant Law)
my dreams of having a own home is pretty much shattered with SBI providing home loan to a Non Performing Asset apartment home which has been lying vacant since 7 years and sold it to me through a Recovery agent. The problem of this home is whenver the septic tank fills the drain water comes into home which pretty much happens every two or three months. SBI did not scrutinize the property properly and sold it to me. It is not a place to live so I am still staying in a rented home. Just to stay without legal problems now I have to pay EMI and I cant use the home nor give it for rent. Now the only option is to wait till they built a proper drainage system in the area which is not going to happen in another few years or might not happen ever or wait till I die so that I dont need to pay EMIs anymore or wait till the building collapses. I believe the sooner thing is going to happen is my death which gives a lot of relief to me but then again this property becomes NPA again.
Answers (1)

Answer #1
593 votes
Hi,
This is M.A RAHEEM KHAN Advocate , From : Hyderabad @ lawrato.com

You have to file case against the SBI for hiding of facts and entered with you in contract by disclosing the facts and claim for recovery of your money along with all the Expenses and losses faced by you due to misrepresentation of SBI.
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