Advice on advance money
Joy Chandra
(Querist) 27 September 2012
This query is : Resolved
Dear Sir,
In February 2012 I entered into an agreement to sell purchase/bayana agreement with a Builder for a property at Delhi which is in name of three partners through a property dealer.
That the sale consideration of the property was settled at a lump sum of Rs. 15,30,000/-. Out of the total sale consideration I have paid the earnest money/advance amount of Rs.1,53,000/- in cash.
The Bayana agreement was executed on a Rs. 50 stamp paper and was also notarized.
That as of the per the terms and conditions Agreement to Sell the date for execution and registration of the sale deed was fixed after 45 days of execution of the conveyance deed in my favour and also mentioned that Second Party (myself) has applied for loan of Rs 1200000/- ,if the Loan is not Sanctioned by Bank Then the Bayana money will be returned by the first party.
The property dealer is arranging Loan through a Agent and he is saying loan will be sanctioned.
But as of now,7 months gone ,Loan is not sanctioned and I want my money back. I have asked my dealer to arrange a meeting with Builder. He is also not cooperating and saying builder is not contactable and he will arrange meeting within 10 days. But he does not arrange meeting ever after 10 days.
I have called up Builder to return back the bayana amt, he is saying that 45 days is over the amt is forfeited.
Bayana amt will be forfeited after 45 days, this is not written in aggrement.
I will appreciate if you could let me know what I should do. Would be it be advisable to file a case in the court?
Regards,
Joy
ajay sethi
(Expert) 27 September 2012
you are penny wise and pound foolish . you ought to have contacted lawyer before giving any earnest money . you have paid over rs 1. 50 lakhs in cash .
does agreement mention about the cash payment?
contact a local lawyer . issue legal notice to builder for return of money with interest .
Rajeev Kumar
(Expert) 27 September 2012
Whether the builder accepted the earnest money and mention it in aggreement paper. Engage a local lawyer and send him a legal notice.
Joy Chandra
(Querist) 27 September 2012
Dear Mr. Rajeev JI,
Builder has accepted cash and also mentioned the amt recd in cash and signed the agreement.
Thanks
Joy
R.K Nanda
(Expert) 28 September 2012
send a legal notice to him to refund ur earnest money.
Shashikant V. Patil
(Expert) 28 September 2012
It's very pitiable matter, you can served upon a legal notice to a builder and as well you may lodge a police complaint for cheating and fraud.
