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bought property under bank auction

24-01-2013, 06:23 PM
Post: #1
bought property under bank auction
Hi,

We have bought a property in an apartment through bank auction. That property was built in the parking area as per the building plan but every resident in the apartment has sufficient parking space. We have also got the property registered. This property comes under Secunderabad Cantonment area. Now, after buying this property, all the other owners have complained against us in the secunderabad cantonment that this is an illegaly constructed property.

Please advise us what to do as we have spent a lot of money in buying this property along with the registration. Is it our fault or banks fault.

Awaiting for response.

Thanks
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24-01-2013, 06:25 PM
Post: #2
RE: bought property under bank auction
For which bank did you buy this property from?

It is not the amount that matters. It is more of my self-respect as an educated consumer!Shy
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24-01-2013, 06:26 PM (This post was last modified: 24-01-2013 06:31 PM by Expert.)
Post: #3
RE: bought property under bank auction
(24-01-2013 06:25 PM)Expert Wrote:  For which bank did you buy this property from?

from bank of India
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24-01-2013, 11:40 PM (This post was last modified: 24-01-2013 11:43 PM by Expert.)
Post: #4
RE: bought property under bank auction
I want to ask a few things:
  • Did you not meet those residents before buying your property?
  • Is this property really illegal?

If indeed it is illegal which is most common phenomenon in India you have these options:
  • Sell it to some other person. Somebody will buy just like you.
  • Turn a deaf ear to them, after some time those residents will forget this ( I'm not sure about this)
  • If cantonment really wants to take away your land, go for court and bribe those cantonment officers. They are all corrupt and they are always fully deep into it. If you bribe them now, they will simply turn a blind eye to their complaints and nothing will happen!

Secondly you should also meet BOI officials and their lawyer who approved loan for this and try to know why they had approved this property at all. If it was illegal then it is clearly a fraud ( 420) case and talk with these two faced the same issue: http://forum.indiaconsumercomplaints.org...QF5rvmNBWI

It is not the amount that matters. It is more of my self-respect as an educated consumer!Shy
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25-01-2013, 11:40 AM (This post was last modified: 25-01-2013 12:05 PM by Expert.)
Post: #5
RE: bought property under bank auction
Thank u very much for your response, sir.
Actually, we being the president of the society, told them about the bank auction notice in the newspapers, but nobody came forward, but yes indeed we did not tell them that we are planning to bid. At the same time, we even waited till the last day of the auction, then we went ahead and filled the tender.
Sir, we have even tried to bribe the cantonment officials but they are not ready for that.
But sir, my question is that can the cantonment people just come and demolish the property (the parking area which includes one house and five shops) and moreover, this is not our fault, we just bought it from the bank.
And one more thing, i would like to share it with u, that there is one more illegally constructed shop running since last 8 years, but no one has really objected to that.
Sir, please advise as we are really concerned.

Thank you
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25-01-2013, 12:08 PM
Post: #6
RE: bought property under bank auction
Cantonment Jawans may be ordered to demolish such structures without a warning - this is how they work. Unless you get a stay order from court etc it is a possibility.

Did you contacted those two people (in the link) I gave you?

I can think of this much only.

It is not the amount that matters. It is more of my self-respect as an educated consumer!Shy
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25-01-2013, 03:18 PM
Post: #7
RE: bought property under bank auction
I forgot a good suggestion - talk to Cantt officials through some acquaintance in Defence. If you know anybody in defense then ask him to talk to them ... they'll be more comfortable to tell the truth.

It is not the amount that matters. It is more of my self-respect as an educated consumer!Shy
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25-01-2013, 03:47 PM
Post: #8
RE: bought property under bank auction
Thanks you sir, but we have already given the letter in the defence also and they have just forwarded the letter to the different departments. We have also met the higher officials of defence. The said that they don't interfere in the property matters.

Thanks
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