Registration agreement

kadirz (Querist) 31 May 2014 This query is : Resolved
I registered a property on 26/05 taking loan from housing finance company .I gave DD's of 2.4 lacs to the builder for UDS and agreement registration . On the day of registration the builder got 1 copy of registration and sale deed and i carried the MOD . The housing finance company representative did not get any documents for registration . The builder asked finance company's copy of registration agreement . When checked with the staff of the housing finance ,it was confirmed no document is required .Registration with builders copy is sufficient. I proceeded with the registration as I was told . After the completion of registration a fight ensued between the builder and fin. company ,builder refusing to give the registered agreement and finance company refusing to release 5% of blasnce payment . As a purchaser I am taken aback by this blame game as i am stuck now . I don't have any copies of the registered documents till date . What do I now ? what are the legal options available ?

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P. Venu (Expert) 01 June 2014
You can approach the consumer court.

Guest (Expert) 01 June 2014
First you apply for copy of documents from Registrar Office and apply for Encumberrance Certificate for a period of 25 years.Do not sign any further documents either with builder or finance company.Take the Possession immediately and Relax.Do not make any payment to finance co till the matter is sorted out.Submit a letter to the Finance Co no interest to be charged during the period of dispute with the builder.

Raj Kumar Makkad (Expert) 01 June 2014
I do endorse the advice of expert narasimha.

T. Kalaiselvan, Advocate (Expert) 02 June 2014
The drastic steps as suggested by expert Mr. Narasimha would be a better solution in the event of prolonging blame game between the builder and the finance company. Do not allow yourself to become a victim of their ego issues. If nothing works out, issue a legal notice and approach consumer forum to get your grievance redressed.

Raj Kumar Makkad (Expert) 02 June 2014
serving legal notice even at this stage is beneficial for the querist.

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