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Builder Demanding For Payment without CC
26-Aug-2023 (In Property Law)
Booked an under construction property.My payment is through Bank and its due as per agreement.Had Loan Sanction but bank has not disbursed as there was no CC for the Floor on which i have my Flat.Now Builder is forcing me to go with Bank of his choice which is ready to disburse without CC.In case i am not going with this Bank they are threatening to take legal route to cancel the agreement. What is my Legal Right if i don't want to cancel the agreement and don't go with bank of his choice.
This is my advice to you:
1. You need to vet your Agreement with a lawyer;
2. If there are terms that say that you need to disburse the amount as per schedule then you have to adhere to it;
3. Also you can still request your bank to disburse the loan amount and you will bear the risk;
4. If dissatisfied with the builder then file a complain to RERA that such kind of conditions are not there in the agreement;
5. Proper advice can only be shared once you describe your case in detail.
1. You need to vet your Agreement with a lawyer;
2. If there are terms that say that you need to disburse the amount as per schedule then you have to adhere to it;
3. Also you can still request your bank to disburse the loan amount and you will bear the risk;
4. If dissatisfied with the builder then file a complain to RERA that such kind of conditions are not there in the agreement;
5. Proper advice can only be shared once you describe your case in detail.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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