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How to repay a bank loan for flat in case of flat cancellation
10-May-2023 (In Property Law)
I have booked a flat 2 years back , I have paid 6 lakh cash and also availed the sbi home loan around 15 lakh. Now due to some personal problem I can not continue with the plan of owning apartment for this I want to cancel the booking . In this case can i get my money back and can a bank can get its money back. Please help.
Dear Sir/Madam, you may be cancelled the flat booking but the some percentage of money deduct from your advance amount which you have paid to the builder as per terms and conditions of the sale agreement or Memorandum of Understanding. You will return bank loan to the said SBI home loan to the said bank with interest as per strategies of the said bank.
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Adv. Chandrashekhar Vithal Jadhav
Bangalore | 200+ Answers
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