Possession or refund of advance money
Abhinay Kumar Shaw
(Querist) 30 August 2013
This query is : Resolved
Respected Members,
Mr. X (Purchaser) has entered into an Agreement for Sale of Flat with Mr. Y (Seller / Promoter / Developer) on 8th day of February, 2012 for purchase a Flat measuring about 1050 Sq. Ft. @ Rs. 1500 per Sq. Ft. (Market Rate was on that day about 1650 per Sq. Ft.) on 5th Floor, Block –A, on the South East Corner of a Building which was Sanctioned for G+3 by the Local Municipality.
Mr. X informed (mutually) to Mr. Y that he will give 30% of the Flat Cost as Advance money for booking the said flat in his name and the balance payment shall be made through Home Loan from any Bank or Financial Institution and Mr. Y assured (mutually) that he will get all the necessary document done for helping Mr. X to get the loan sanctioned including variation certificate from the Local Municipal Corporation for G+5 Construction by paying the additional fees and penalty.
Further, Mr. X has made the payment as Advance Money via RTGS and Cheque Rs. 550000 (3,00,000 – 16/11/2012, 2,00,000 – 26/11/2012 and 50,000 – 09/02/2013) which is more than that of 30%.
Please note, Mr. Y has got the land on which he is constructing the Building into 4 Blocks from Four (4) Parties but Mr. X was not aware of the fact that before entering into the said Agreement one of the party died some time back from the date of signing the Agreement.
Now, the party who died, whose legal heirs are not co-operating with Mr. Y to go for further proceeding and Mr. Y is not able to proceed neither the construction of Flat nor completion of the necessary document as he need all the party or his legal heirs for signing and filing the application for Variation.
Therefore, please consider every aspect of the matter from Mr. X’s and Mr. Y’s point of view and suggest what Mr. X should do to get either the possession of the said flat or Refund of Advance money along with Damages (Market Value is 2500 per Sq. Ft.) and Interest if any.
ajay sethi
(Expert) 30 August 2013
contact local lawyer . issue legal notice to builder . it is necessary to go through agreement executed between parties as to handing over possession to buyer . the agreement must be mentioning when possession would be handed over .
move consumer forum for refund with interest as provided in agreement . also seek compensation
