Mantri Developers Private Limted
Buyers Beware
This is for all those who have booked their apartments at Mantri Navratna. Please BEWARE before signing the final sale deed as the entire property is under mortgage to Punjab National Bank, Commercial Street who also are issuing a ”No Objection Letter to Register”, which is a fraud being played out on the consumers as although the registration can be carried out the property does not become ”Free from Encumbrance”. Hence in case at a future period Mantri cannot pay back to bank for some reason then you will loose your property and the legal remedy for you at that point of time would be to file a civil case for damages against Mantri by paying 1) Court fees equivalent to 10% of the claim amount, 2) Advocate fees & 3) Slog it out in the court of law for years.
This is for all those who have booked their apartments at Mantri Navratna. Please BEWARE before signing the final sale deed as the entire property is under mortgage to Punjab National Bank, Commercial Street who also are issuing a ”No Objection Letter to Register”, which is a fraud being played out on the consumers as although the registration can be carried out the property does not become ”Free from Encumbrance”. Hence in case at a future period Mantri cannot pay back to bank for some reason then you will loose your property and the legal remedy for you at that point of time would be to file a civil case for damages against Mantri by paying 1) Court fees equivalent to 10% of the claim amount, 2) Advocate fees & 3) Slog it out in the court of law for years.
Please observe the clause in the sale deed and if you cannot understand then please approach a good advocate for advice.
A well wisher
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