Hi All,
I wanted to buy an under construction Flat in resale. Flat was allotted to the Seller and now Seller want to sell it. I have to get Home Loan for purchasing the Flat. Seller also purchased the Flat from Loan.
We( I and Seller) decided to transfer the loan in my name in same bank and I'll pay difference of amount to the seller. But in order to transfer the Loan in my account, the allotment should be in My Name. But the Builder is saying that to transfer the allotment, first the seller have to pay his entire Loan and then get a NOC from Bank. In that case I'll have pay service tax on the total cost of the Flat, Whereas Seller has already paid Service tax on the amount on which he booked the Flat from the Builder.
So please let me the best legal way to resolve the issue. I have already paid the token money to the seller.
Regards,
Anoop Prasad
