I have paid RS 5 lakh cash as bayana for a flat (1st floor,100 sqyrd in meenakshi garden) on 16th feb 2016. the cost of agreement is Rs 49 lakh . the bayana is made on Rs 50 e stamp paper and the receipt is duly signed by the seller on 5 rs stamp with one witness of his son . The bayana validity is till 20 th may 2016
The actual property is in 200 SQyd and divided in two equal parts. The seller is having one of the part. The bayana stated that the property is free from all litigations, mortgage etc etc.
I have applied for loan against the property in 2 banks and also paid for it . It got rejected due to two issues:-
1)No map of construction
2) Technical fault : MCD has listed the property GF( entire GF) as unauthorized construction in its website in 2002 .
The property is freehold and all other legal docs are ok .The seller told that he can arrange the loan ( need to pay 1-2% commision to agent) but i don't want to enter in the deal due to uncertainties involved.
Now the seller is resisting to pay back the bayana amount ,stating that he has forwarded the money as bayana to his seller and he is not having money. He also states that you can go and challenge it legally .
Kindly let me know how to proceed now in this case and chances of getting money back and lastly how much time it will take in legal procedure.
Asked 8 years ago in Property Law
Religion: Hindu