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Home > Forum > Coimbatore > Home Loan > Is this a secure mode of transaction or not?

Is this a secure mode of transaction or not?

Q: I have planned to buy a building which is under construction. The total cost of land and building is 45 lakhs. We have approval of 20 lakhs from bank in the name of builder. The problem is the builder is not accepting a penny as dd/cheque. He needs everything in cash. I like to know whether this is a secure mode of transaction and should I continue with this proposal or cancel it. Need your valuable suggestions.

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Replies (4)
1
Hello Kamal, Please check the reputtaion of the builder and also take advice from your legal expert.
prateeksurana23


2
At which stage is the construction? Beware of cheating cases wherein fraudsters make money showing others' projects and showing fake documents.. First confirm whether whom you are dealing with is the owner or not.
Manikam


3
Hi Mr. Kamal, have you verified all legal documents related to project? What is the name of the project?
rao.venugopal18


4
Which project is this? Normally builders do not put such conditions..
raj


5

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