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manish (Software engineer)     28 June 2011

Home Loan

Hello Sir/Madam,

I have booked a flat and opt for flexi plan. In this I have already paid 10% amount of total cost.Now I have been asked to Pay 30% of  the remaining amount. There is some dispute going on between Farmers and Builders/Authority.  Builder is asking for remaing 30% and bank has already approved this property and disbursing loan. Earlier i thought to pay 30% from my side without taking this amount from bank. But due to this dispute I am thinking to take loan from bank and ask bank to pay this 30%.

I would like to know that in case project got stuck or stopped due to adverse circumstances then who would be responsible for payment? Who would be accountable Customer or builder for payment of Banks loan?


 



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 1 Replies

Isaac Gabriel (Advocate)     28 June 2011

The bank will disburse the amount after getting all the documents and undertaking from you to repay the loan amount..So. as you are raising doubts,please think twice before venturing in.


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