HI i have own a flat purchased by me in 1989 through bank finance when I was an employee of the bank?

The flat is located in Hyderabad, AP. Those days the buying is done by registering the undivided share of land and entering an agreement to construct a flat(agreement is not registered). When I approach banks for securitisation, I was told that the title deeds can not be accepted as security as the agreement is not registered(present laws stipulates). Can any one help me as to how to solve the problem. Thanks

sincere help would highly be appreciated

srinivasan

the bank officials are bluffing or avoiding you.

their contention that the agreement need to be registered is an utter false. no such rules prevailing.

ask that officer to give it in writing.

you can complain against them in Banking Ombudsman at RBI

You first obtain the letter of the completion of the construction from the builder.Then you make an application to the Revenue Department to effect entry in the property register for assessment of tax in your name.Likewise you also apply to the Municipality,Electricity Department,Metro water etc and obtain assessment and name connections in your name for this flat.You also have the ration card,election card,Identity card with this address.You also obtain an encumbrance certificate from the Sub-Registrar that there is no encumbrance over this proeprty.Then you approach the banks for any finance.