Hi,
I had purchased a new underconstruction flat in Goa. The flat pocession has been delayed more than 2 years now, although some other flats in the same building are ready.
When I argued hard with the builder, he has offered me to swap my flat with another which is ready but not completed. The new flat offered to me is around 10 sq mtrs more in area. I am ready to pay the builder directly the differential amount.
I have previosuly registered my flat in the sub registrar office and paid my entire stamp duty. I have also taken a SBI loan on the current flat.
The builder now tells me to do the below for SBI loan .
a) inform the bank to close the loan
b) enter into a rectification deed which is acceptable to bank.
c) on the basis of rectification deed, new loan will be sanctioned for new unit.
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I am confused if this is ok?
Secondly I want to know the below?
1. Do I have to pay the entire stamp duty for the rectification deed or only pay stamp duty for the differntial area?
2. Even if SBI transfer my mortage to the new flat,and I pay the required stamp duty, have I done everything to cover me legally?
Would appreciate your immediate response and help please???
thanks in advance...
