- This topic has 8 replies, 6 voices, and was last updated 1 year, 4 months ago by
.
-
Posts
-
-
FI have booked a flat in Bangalore but haven’t paid any money so far. This is a new under construction flat, possession in June 2025.
I had given them booking amount (2 lakh) via cheque, but it got bounced and I promised to pay that booking via RTGS, but never did it. However I have arranged the initial 10% money needed to proceed with sale agreement finalisation process.
My job feels bit insecure at this point of time and I fear of getting laid off. Also I am undergoing some personal issues in married life which is making me very overwhelmed at this point and nervous in making this decision.
So I feel I maybe want to hold on to buying this property. I would like to know if I back out now is there any legal case that the builder can have against me? Also what will be a graceful way to exit from this deal?
-
UIf you have not paid anything, I think you are safe just read the sales contract and advise them officially of your intent. If you gut feel is not good don’t buy, as gut feel is everything in real estate and life.
-
FThanks. I don’t really have anything on the sales contract. It was a booking form which I had filled and signed, and they handed over the legal documents for me to verify. That’s it.
-
VBooking form is not same as registration. Nothing is fixed until you do registration of the house. Legally you are not bound to buy the house. However, I don’t know the consequences of the cheque bounce. Check for Krishnaraj Rao on youtube or you can contact him, he will be a better person to guide you regarding real estate.
-
-
-
PA cheque bounce is a legal offense in India, punishable under Section 138 of the Negotiable Instruments Act. The consequences include imprisonment, fines, and civil suits.
-The drawer can be imprisoned for up to two years
-The drawer can be fined up to twice the amount of the cheque
-The drawer can face both imprisonment and a fine -
-
-
