NPA Issue | Vkeel - Free Legal Advice

Mayur

Surat

I am planning to buy NPA residential property an auction. DRT Ahmedabad has passed the order in favour of the bank for auction of the property. Now borrower went to DRAT Mumbai. Can the bank sell the property in the auction? (Case is in drat Mumbai) Is it safe to buy this property? In future, if the case went against the bank, can bank will take the house back. and if I do renovation and reconstruction in the house who will pay me that amount.

Expert's Answers(3)

Advocate Anup Dhannawat
Mumbai, Maharashtra

2 Client Ratings

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May 8, 2019
Advocate Rajni Mishra
Mumbai, Maharashtra

It is always advisable to not purchase the property under auction as Drt & Drat has the power to repossess the original owner. if it goes against you to vacate the premises and won't get your money immediately. in fact, you have to bear your lawyers fee as well. As far as the renovation is concerned you can claim damages but recovery of the same will be too slow.

May 3, 2019
Advocate Sayana Sudhakar
,

you can purchase the property from the auction,

May 2, 2019