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DA man was involved in a legal battle against the authorities after his property, a chawl consisting of 8 houses, was demolished. At the time, he was financially struggling and was looking for people to invest in his case.
My cousin and some of his friends found out about the situation and entered into a contract with him. According to the agreement, he would sell one house to each of them for around ₹10 lakhs. He signed the contract and assured them that the legal case would be resolved within 8 months. However, it’s been over 13 years now.
Now that the case is finally nearing its resolution, the man is backing out of the agreement. He’s saying he’ll return just ₹2 lakhs (the initial investment made by each person), and that he won’t be giving them the promised houses. If they still want to buy the property, they’ll have to pay the current market price which has increased significantly over the years.
My cousin is deeply affected by this. He was new to the city back then and saw this as his chance to own a home. Now, with real estate prices so high, it’s nearly impossible for him to buy a house elsewhere. He’s growing more and more depressed, constantly contacting his old friends and lawyers, trying to figure out what can be done.
I’m not sure how far he’s gotten with the legal proceedings, but I wanted to get some other opinions on the situation.
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