Hello Friends,
We are purchasing a Flat in Rajender Nagar, Sahibabad Ghaziabad.
The owner of the flat did't tell us that the property is lease hold and the lease is expire in 2008. I got to know this when I submitted the paper of property to bank for the bank loan and in the legal we got to know all this.
In the sale agreement owner asked me to cut the home loan point (if the loan is not approved by the bank owner will return the whole money to buyer) and told me that he'll not return the token money and the advance we gave it to him.
As the agent who showed us this proerty said that he'll approved the loan in 20-30 days max as he already disucss with 2-3 banks and they are ready for it.
By trusing on agent I cut that point and signed the agreement , even on that point i did't know about the leadhold and all things.
This agreement signed on 14 april 2012 for 2 month and the agreement is expire now and till now no bank is ready to provide homeloan on this property.
As per the agreement there is point that the property is free from all the dues like, water, electricity and from the GDA.
But as the property lease already expire in 2008 so its mean last 4 years lease rent is due on the owner and he try to sale his property illegally.
Even on the lease deed there is point that the ower cant sell, rent or mortgage the property.
Now I need legal advice on this case, how strong is my points on this, even on the agreement we cut the homeloan point but still the owner dont have the right to sell this property.
My money is stuck with him and I need it back or want him to provide me NOC from GDA as bank asked me to provided "sell permmision from GDA" and "permission to morgage" for the loan.
But he is saying I am not responsible for the loan as he already cut this point on the agreement and also he is saying that the agreement date is expire so dont demand anything from him.
Now please help me what should I do now?
Thanks
