Deleted user
posted a year ago
Selling a property in India
I sold a property in India in 2016. Because I am British I owned a lease not freehold and the cash (£40k) went to the property developer who built and operated the villa complex. Capital controls and incompetence (and corruption?) have meant that cash is still with the Developer pending central bank approval to send it to me. The Developer is in no rush as they are earning 10%+ interest on my money. I'd like my money back AND at least some of the accrued interest. Thanks.
Country
  • India
Fields:
  • Contract
  • Banking and Financial
  • Property
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nimit2010
Deleted user
Lawyer
posted a year ago
You may have to approach the development authority and find out the current status of the property. I presume that you would have not applied for conversion. The real estate laws may vary in different States and as such a little more information is required to access the situation.