Background
I've book one residential Apartment in Budh Studio Project & Project construction purposed location was i.e. Jaypee Greens Sports City, East, Sector-22B, YEIDA, Distt. Gautam Budh Nagar, U.P. Builder supposed to be handed over this Project /Apartment to the owner by Dec2016 but there was no construction was done on this project (even excavation is not done yet) and we are still paying EMI on this loan and don't know when we will be get hour Money back from builder. I’ve File a RTI with YEIDA and ask them to confirm whether this project was approved from Authority or not and I come to know budh Studio-2 project (Building/project layout) was never approved by YEIDA.
Bank Stating that they only facilitated the purchase of the flat by disbursing the loan at your behest and instructions and the Bank cannot be held responsible for any issues/dispute with the Builder with respect to progress /completion of the project, delay in delivering the Flat in accordance with the agreed time line.
I've asked them to clarified on below mention point
1) Bank scrutiny’s all documents before approving loans. How could they approve Approved Project Financial for this project?
2) Provide a copy of all the relevant documents like Government clearances, No Objection Certificates (NOCs), Title Deeds, Sale Deeds, Approved Plans, and Freehold/ Leasehold documents in order to prove that the project has all the required licenses and permission.
3) Submit proofs of clearances from authorities like forest, pollution, fire and electricity board submitted by builder to get APF number
As this project has been canceled/Scrap by Builder want to know how could I file a legal case against Bank to get compensation as they have approve homeloan on unapproved project intentionally
