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Demand Letter From Piyush

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Discuss about project Piyush Heights, Sector 89, Faridabad.

Demand Letter From Piyush

Postby Rajesh5 » Tue Mar 05, 2013 9:37 pm

Hi Dheeraj Ji

Want an advice, I have received 18th Installment demand ( 2nd last ) from Piyush on completion of Flooring in my Flat, tower "M".
In view of the current situation, Financing company is not making any disbursement against my loan, but as per the terms of the agreement I am liable to Pay to the builder.

Please advice, If I should make the payment to avoid late payment charge and also forfeiture of my flat.

Thanks
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Re: Demand Letter From Piyush

Postby dheerajjain » Tue Mar 05, 2013 10:24 pm

Yes, you should go ahead with payment.
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Re: Demand Letter From Piyush

Postby Rajesh5 » Wed Mar 06, 2013 9:08 pm

Thanks for your advice...DheerajJi.
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Re: Demand Letter From Piyush

Postby naveenarichwal » Thu Mar 07, 2013 3:54 pm

Which is this financing company that has refused to give payment on demand of piyush, and was giving home loan previously?
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Re: Demand Letter From Piyush

Postby anojjain » Fri Mar 08, 2013 2:13 pm

dheerajjain wrote:Yes, you should go ahead with payment.



My opinion - In loan cases there is a three party agreement between Builder / buyer / Bank. If you got the possession. Your flat papers will be in the custody of bank.

At the same time your agreement with bank is based on the the time when they are financing the property and they can not refuse till the order of court.

Take in writing that bank will not pay your installment.... Even you can show that papers to Piyush that because of their delay and repo , bank not paid the installment and you can get the rebate on the interest part. Refusal from bank to give installment is a legal document...

Wish you good luck...
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Re: Demand Letter From Piyush

Postby dheerajjain » Fri Mar 08, 2013 3:05 pm

I agree with Anoj valauble comments. Also, please tell name of Bank which refused to pay loan installment.
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Re: Demand Letter From Piyush

Postby anuj020676 » Fri Mar 08, 2013 5:52 pm

Dear Rajesh, Please take up your matter top level officer of the financing company. I dont find any logical reason which they can mention in writing for refusing builder's demand for the next loan instalment disbursement. Third Party Agreement normaly does not cover any such condition for the loan borrower.
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