ON ASSURANCE BY BUILDER/HOUSING SOCIETY THAT BANK LOAN IS AVAILABLE TO BUY THE PROPERTY

Querist : Anonymous (Querist) 05 December 2010 This query is : Resolved
One reputed Housing Society makes an advertisement/offer of sale of its property through a webpage advertisement which is silent on the aspect whether Bank loan is available to buy the property.

However, on contacting the Chairman of the Society, he confirms to the buyer that bank loan is available because of which buyer does not make any enquiry about the property and the promises which are made about the property in the webpage advertisement.

Chairman also falsely states that Bank had approved the project for availing loan through the designated email id mentioned in the webpage advertisement.

On reaching bank along with the Allotment letter, buyer comes to know that Society has given a picture to the Banker through the documents of the property submitted to the bank that it is a purely residential property, whereas in the webpage advertisement the description of the property is of Commercial nature.

On asking the documents of the commercial venture, Society remains silent.

Can society give two different description to the Banker and entirely different to the Buyer? and especially when over and above the description of the property as stated in the webpage advertisement, society Chairman has categorically mentioned through email that Bank had approved the Project of availing loan.

In this entire episode Society lastly cancels the registration/allotment letter issued to the buyer and deducts money over and above despite using money of the buyer for over two and a half months.

Buyer accuses Society of Cheating, as he has suffered financially and also Breach of agreement, as society in order to run away from the Contract, refunded money to the buyer against his wishes.

Will the Criminal and Civil Charges sustain, if all the facts as stated are established beyond any reasonable doubt?

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