BackGroud:
I booked flat in Mar-2012 & applied for home loan in SBI.
I shown all documents to branch manager, then Branch manager told to make till date search report from SBI approved Advocate.
I have submitted all documents required for making till date search report. Advocate found that there is no document of sale deed between owner of land and building Company. Owner of land is director of building company which is limited company. So mortgage of flat not possible due to nonexistence of sales deed as per advocate comments.
I informed this issue to builder then he called me after 15 days & told on phone you go to other bank otherwise you are liable to pay 18% interest per annum on demanded amount which is approximate 23 lacks. & he also send me email of same.
Quetions:
1. am I liable to pay 18% interest per annum as legal documents are pending from builder side ?
2. is email for liability of 18% interest from executive can be considered as legal notice
4. If document of sales deed between owner & developing company not made available. will it create legal issue to flat owner ? if yes what to do in this situation ?
Can you pls suggest me ?
