1. Leo
  2. Real Estate & Property Law
  3. Thursday, August 10 2017, 06:18 PM
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When we moved in our house, Our house builder/owner and us had an agreement that we'll buy the house @ 4lacs by taking a bank loan. We made a initial good faith payment of ₹25000(which was returned to us later by the builder) and moved in Dec 2015. The reason I'm referring the owner as builder is because he was constructing a building next to our house and had also purchased the plot on which our house is built. Due to low salary of my father, bank didn't approve loan. Meanwhile the building was completely constructed, all the flats in it were sold and then the builder didn't bother to visit us. After 1-2 years he returned and asked us to vacate the house and gave us our ₹25000 and one month time to look for a new house which we accepted considering it is his house. Again he never bothered us till date, not even to ask for rent or money and we couldn't move out to a new house because we didn't have a good financial position. It's been close to 12 years and we are now in a position wherein we can pay the agreed amount of ₹4lacs+₹1lac property tax. Please advice if we can buy this house with the amount that was agreed 12 years ago or the builder can demand more money considering property value has risen for the same plot. We've been paying electricity bill, however the electricity and tax are under the original buyer from which our builder purchased the plot. There's also a good possibility that our builder has already sold our house plot to another builder who is not living in India. The house was poorly constructed by the builder and for a decade me and my family has suffered from water leakage from ceiling. Hence we want to improve current structure of the house by rebuilding it and adding an extra floor, however we are scared considering we dont have any legal documents to start construction. Please advice how to go about here.
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