I have entered into registered agreement for sale with Developer in April 2023. The Project is registered under RERA wherein 3 plots of lands were amalgamated and is proposed to construct 3 buildings on the amalgamated plot. Building 1 is for rehabilitating existing tenants of the 3 plots, Building 2 is sale building and building 3 is for non-residential and temple. I have bought flat in building 1 from developer because he has told that flat is sold on the basis of Sale FSI. Part OC received for Building 1. Housing loan is sanctioned but before disbursement of loan, the advocate of bank pointed out about the charge of 3 project lenders on the project. I demanded NOC of project lenders from the developer but he informed that you are sold flat in building 1 which is rehab building and there is no charge on this building. As per ROC, out of 3 project loans, charge of 2 project lenders are satisfied. I have obtained mortgage deed executed by developer in favour of third project lender wherein it is mentioned that the plots of land on which project is to be constructed including all structures of any descripttion is charged.to lender. After deliberation with developer, the develper informed that he has already sold 15-20 flats in building 1 without obtaining NOC and he will not apply NOC for my flat as it may open the pandora box in front of the project lender. The developer offered to either get housing loan from other bank which he will get it arranged without any additional bank charges or cancel the deal and he will refund all the monies. I would like to know how strong is my side against the developer and what should I do. I feel like cancelling the deal and get back all the monies paid to him plus recover stamp duty paid for registration and bank charges incurred for getting housing loan. Please guide me how do I go ahead in the matter.
