Hello jury. I have purchased a flat/property in mhada. Borivali. Mumbai. I did the deal in Dec 15. With the seller for 66 lacs. And the seller had made a mou with his reffered consultant. We're it was written that he has a loan in the bank and he will only pay the outstanding till 31 dec 15. Then i have to pay. I was supposed to sell my flat in thane and pay off . But suddenly in Jan the market clashed.. I was not getting any buyers .. by the time i had given him 15 lacs. 8 by cheque and rest cash. I waited for my flat to sell but of no use. By deadline in mou was written 10 feb thereafter. He can sell his flat to any buyer. I told him to go ahead with ur selling and give my money back. The consultant told if he pays back he will cut 10% on 15 lacs given. The seller also couldnt sell because he was getting lesser then my deal due to the market.Due to fear in rise of stamp duty registration in jan 16 with my intention to buy the flat and the consultants advice I even paid the same for the agreement value of 32 lacs ie. 192000/- on 29 dec 15 by him only. Later my wife being unwell and looking my stress we decided to cancel the deal and bear the loss of both 10% of each payment. Later the idea came of mortgage for my flat which I did for 25 lacs with idbi @ 11% and totally paid of a nearly 40 lacs in total. Rest 24 lacs by hsg loan. And headed towards agreement because the consultant told its 4th month of stamp duty paid and I will lose that amnt. if agreement not done in time. Then the Agreement was done. Payment- 40 lacs+24 loan=64. The seller and the consutant took advantage of my situation and asked the remaining 2 lacs pdc, and consulatnts sudden 30000 charges and the all the emis frm 31 dec. Written in mou which comes around 16700/- per month all × 5 months ie. 83500 + some interest amount on delay one day before agreement and last day of my 4th mnth of stamp duty and registration. Dear jury now my question is i really wanted a house like that and I didn't want to break my wife's heart. I have taken so much of burden with mortgage and hsg loan only for her as she also gone through a miscarrage during this phase. The seller is only concerned about his money. Do I really need to pay more he demands. ie .written in mou. Does the mou has any existence after the registration. Can i tell him the market condition. As if he already got 64 lacs. Does anything stands Legal if i don't pay him. Can i take the possession forcefully on basis of the agreement. For the house I am in full debts to pay emi/ interest till I get a good buyer for my previous house to get some relief. I hope sir u understood my scenario.. and give a helpful reply.. I would highly reciprocate for your concern. Thanking you. Yours truly Charles.
Dear Querist
All things are practicly possible but less value if there is any written documents, written documents will enforceable by law and you have to pay the amount as per the terms and condition of mou.
Forcefully possession of flat is illegal.
When you may 64 lacs then why do you go to litigations for 2 lacs or other legal amount which you legally bound to pay.
Settled the matter amicably and get your dream home.
Feel Free to Call
1) your deal for purchase of flat was for Rs 66 lakhs
2) you were supposed to make payment by 10 th February 2016
3) if there is delay in making payment seller can recover interest as per terms of MOU
4) it is necessary to peruse MOU signed by you and subsequent correspondence entered into for advice
5) you cannot take forcible possssuon of flat
6) it is better yiu resolve issue amicably
7) if you go to court it would take years for case to be disposed of
Hi, You have already paid 64 lacks and your entered into agreement of sale in order to register the flat in your name you have to pay the remaining amount then only seller will be registered the sale deed in your favour otherwise they will not register the flat in your name so you have to pay remaining balance amount as per MOU and registered the flat in your name.
1. After the MOU is signed by both the parties it becomes sacrosanct as a charter of rights and liabilities of both seller and buyer, and therefore has to be honoured. Default in performance of the duties under the MOU can be redressed by filing a suit for specific performance against the party in default. You can be sued for recovery of money and also specific performance of MOU if you do not pay the money that you are liable to pay.
2. Under no circumstances the possession can be taken forcibly.
you should file a suit for extension of payment on the ground of laches in the agreement. linger on the case because you can challenge the rule of deduction of 10%, conduct of the builder to take undue advantage,
you can get 1 or 2 years in this proceeding then when you regain your financial position you can pray for conciliation under section 89 cpc and compromise with builder. you should always show before the court that you are ready to perform this agreement and keep in touch with the builder for amicable settlement.
you should file this suit only for taking time for payment and prevent others to take undue advantage of your condition.
Do I really need to pay more he demands. ie .written in mou. Does the mou has any existence after the registration. Can i tell him the market condition. As if he already got 64 lacs. Does anything stands Legal if i don't pay him. Can i take the possession forcefully on basis of the agreement. For the house I am in full debts to pay emi/ interest till I get a good buyer for my previous house to get some relief.
You can refuse to pay him the excess amount demanded by him, Actually if the MOU terminates on the registration of the property, the clauses extinguishes automatically however the clauses need to be seen for proper opinion.
You can force him to handover possession or can approach court with a suit for specific relief or specific performance of contract.
