Is HDFC limited is in fault and SBI can seal flat
“Shukan Sky” is one of renewed project developed by Shukan corporation – Partnership Firm,Near City pulse , Kudasan Gandhinag, Gujarat consisting 480 flats in 15 blocks .
Fact and brief of case.
• I booked a flat in the scheme know as “Sukan Sky” promoted by Sukan Sky Corporation, a partnership firm on 13.06.2013 and made initial payment of Rs.3,60,000/- through cheque number 000001 dated 13.06.2013 drawn on BOB bank.
• Vis a vis I applied for a home loan with HDFC Ltd. and the loan was sanctioned and full payment released
• The sale deed was done in my name on 27.06.2013 pursuant to full payment of the agreed amount.
• Since the home loan was sanctioned by HDFC Ltd. I had a reason to believe that the bank has done proper appraisal of all the documents pertaining to the title of the property and the flat booked by me is free from all charges, lien and encumbrances.
• I subsequently learnt that the builder/developer had availed a project loan from SBI on 31.03.2012 by mortgaging all the piece and parcel of the land on which the scheme was being constructed. Builder and SBI had not disclosed the same in any pamplet, newspaper or brouchers. Further builder had mention in registry that the subject falt is free from any cherges,lien and encumbrances.from bank or other directly and indirectly .
• It is learnt that the developer/builder has failed to pay the loan and bank is contemplating action against them for recovery of funds. It is also learnt that Bank is orally threatening to the flat owners that their flats will be sealed for recover.
Please advice on legal remedy. Also please suggest whether HDFC bank is in fault for not checking legal titile of Flats also SBI have right to seal my Flat.
Asked 6 years ago in Property Law
Sir, But HDFC limited had done legal serch while granting Loan , Is bank is not at fault ? Further, SBI or Builder had not given any disclosure .
Asked 6 years ago