Dear Sir,
I purchased Flat in group house Cost is 11,50,000.Now work in progress approximately 30% completed builder will give complete flat after 8 months,Registration also completed.I paid 3,50,000 rupees (Bank 2.7 Lakhs + My self 80,000 rupees) at the time of registration. Builder mentioned he received full flat cost (8,54,000 as per government rate) in sale deed of registration.And Home loan sanctioned for 9 lakhs rupees. Amount will be released from bank bunches wise to builder depending upon work.
Bank will pay remaining amount 6.3 lakhs and I have to pay remaining amount 1.7 Lakhs for this flat.
Apart from this Builder asks a cheque for remaining amount that is 8,00,000 rupees in advance from us.And he said that he keeps this cheque until total amount is released.
My question is Can I give a cheque to builder? Because work also not completed fully, and bank also pays some amount depending upon work. Please suggest as soon as possible.......
Thank You,
Sateesh.
