Advance paid for property sale

It is the normal practice to execute the agreement while giving advance money.  I do not understand how you did not execute the agreement.  Secondly, I presume that your money is accepted by the Builder as 'booking/reservation amount'.  Project is yet to start and construction licence is not yet issued (may be) therefore the Builder is not executing the Agreement.  Once the licence is issued by the local body, then agreement will be executed.  Please check with local lawyer in this regard.  If you do not want the flat now, you approach them and surrender your receipt and obtain your money simultaneously.

When you book flat you are suppose to know the area i.e. in which floor the flat consists, the carpet area of the flat, area of balcony etc. and for that you need the sale agreement., where every details of the flat is given, from whatever you have expressed it appear that you have blindly handed over the money and have got only a money recept. Ask them to enter into a written agreemnet of the booking showing the details of the flat by a notice and in case they refused to enter any agremenet for sale ask the money back. In lot of such cases where there is no specific defined area of the flat, the builder tries to hand over the flat which is of less demand in the flat complex and in some cases they even cheat the proposed buyer.

Hi Nandagopal sir,

The project in which have booked the flat has started in 2010. And the venture is around 600 flats.

I have paid the amount as part of booking amount. While paying the amount, i was told that before encashing the checks they will check my bank loan eligibility, as i was going for bank loan.

But after 2 weeks they have encashed the cheques, from then on i was after them to provide me the Agrrement of Sale. Till now they are saying some story or the other (like ... their manager is out of station..or they busy in property show..etc).

Please advice on how to proceed on this..

Hi Surjit Singh Sir,

I have booked the flat in 10th floor and they have provided me all the details of the flat orally, but till now they not have given me anything in writing.

Please help me in taking this forward.

Thanks

N.Devendar

Untill and unless the details are in black in white the builder can deny it any time as per his will. You have only option left to get a written agreement first.

Hi Surjit Singh,

After a month long fight with builder i was able to get allotment letter from the builder.

This Allotment letter is given on their company letter head and with companies round stamp, stating that flat:*** is booked against you and we have recieved 8L from you through cheques(with Cheque No# *****). And will be provinding you the SOA shortly.

Is this letter good enough for me till they provide SOA?

Please advice.

Thanks