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Raghava   28 June 2015

Home loan for old house

Thanks to Lawyersclubindia.com for this opportunity.

My father has purchased a house in Hyderabad in 1998-99 period. The sale was done in hurry and no proper verification was done due to lack of awareness and various other reasons. Of total 260 sq.yds area of our sold plot (as per sale deed and registration documents), ~60 sq.yds of our land is into neighbours plot which we didnt observe. The seller of this property expired 3 years after the sale. Finally in 2000, we built a small house in the remaining land of ours (~200 sq. yds) . Now, in 2015, my father is retired from his services and when i tried to apply for home loan from one of the national bank for extension and expansion of existing property, they say there is a 100% deviation with respect to the original registered documentation.

Is there any solution for this? Can provide a NOC saying, we have been fooled and no action was taken further due to social and other reasons on the seller and hence we are fine with what we have?

Please advise.

Thanks in advance.



Learning

 2 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     28 June 2015

get EC from the Sub Registrar concerned.   convey the legal heirs of the seller to execute a rectification deed for correct extent of the site.  it attracts stamp duty. consult a local lawyer with the particulars.

Raghava   29 June 2015

Dear Satyanarayana garu,

Thank you sir for your quick reply.

We have EC done last year for the same. Sure we will proceed as advised.

But, my father was granted loan for ground floor construction in 2000 by HUDCO where it had no issues. I am bit concerned why the issues are coming up now? Am i now not eligible for home loan from any bank? Should i compulsorily do the rectification deed? Please advise as we are in mid of first floor construction and could delay our process.

Thanks a lot sir.

Regards,

Raghava K


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