Property dealer not returning token amount paid
Querist :
Anonymous
(Querist) 19 March 2019
This query is : Resolved
Dear Experts,
Around 2 month ago, local property dealer forced us to pay token money by clamming there are lots of customer wants to buy this house property. We paid 5% amount within a day through "cheque" due to attractive price and desired location of the property and fear of loosing the deal as we already had lost 2 attractive deals in last 3-4 months by denying advance token money, dealer promised us to issue receipt in evening same day and to enter in a sale agreement within 2 days which actually not done up to now.
On later days it revealed that consturcted house property has no approval from local authority (land has no issue) and we are required to pay extra amount around 70K over and above the price we agreed verbaly.
Now it's 2 months since we paid booking amount, proprty dealer did not enter in agreement with us and also did not issue receipt despite asking by us regularly.
We had promised to pay the house price partial in cash and with a home loan, home loan application rejected due to our objection on 14% interest rate offered by private finance company (as banks do not give loans for unapproved house property) .and forced Home Loan Protactor insurance plan for 10 years.
Now, builder is denying to return the token amount which is 5% of property. He is saying I will only return it if I will find some buyers for the property in future, means no promised date for returning the amount, while he verbally promised to return amount if we did not get approve loan amount.
Kindly mention what we should do in this situation?
Dr J C Vashista
(Expert) 20 March 2019
Consult and engage a local prudent lawyer for issuance of legal notice followed by filing suit for specific performance of contract.
However, if you are located in Delhi/ NCR and feel so, may contact me (on appointment) at:
Ch. No 647, Dwarka Courts Complex, New Delhi-110075 Cell # 9891152939
P. Venu
(Expert) 20 March 2019
No meaningful suggestion is possible unless documents are perused and issues examined in mutual consultation.
