Legal Question in Real Estate Law in India

2 years back i purchased one land from one person without seeing orginal document, recently one of the bank came and posted notice that the land documents was in under bank custody. borrower was the person who sell the site to me. borrower was taken loan from the bank previously before we purchase land from him, finally bank decided to make auction the land to recover loan,

the land was total 806 sq yards. we purchased only 300 sq yards. remaining 500 sq yrds was still not sale. present govt market value was 20.000 per sq yard, if we calculate the remaining property was approx 1 crore, bank given loan was 70 lakhs, total property was divided into 3 documents, 1st document. 300 sqyards, 2nd doc. 250 sqyrds, 3rd doc .250 sqyards. remaining site value was approx 1 crore which was not sale until now. but the bank was given auction on news paper that they were released auction on total 3 sites.except my site this land have unoccupied space which the value more 01 crore, we already requested bank not to include our property in auction, is their any way to stop bank e auction or can I applying any petition in high court without paying any money on drt court. we asked the borrowe site owner why u have cheated, he was telling since 3 months he will pay the bank loan, until now he didnt pay, and also he was saying not to worry because remaining site was there its value was 1 crore, in this case we were unable to take action on site owner because while registration time we mention only govt rate on sale deed didnt not mention orginal rate(black, private rate) , can u pls give me a suggestion what to do. i am thinking is their any possibility to go to high court for delay the auction,request to court bank can do auction for remaining land only threw petition, await advise


Asked on 12/22/13, 11:43 am

2 Answers from Attorneys

i will need to peruse the documents before i can advice. pl contact at 9312411481

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Answered on 12/23/13, 7:11 am
Adv Meenal Kashyap M Kashyap & Associates

Hello,

If the land was already mortgaged please first make sure your legal rights.

For any further help please send your details by email.

Thanks

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Answered on 12/23/13, 11:40 am


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