A leading private sector bank's Gurgaon branch that processes 40–50 home loan applications every month. The bank had engaged SPJ Advocates as their empanelled legal firm for property title verification in Gurgaon and Faridabad.
A borrower had applied for a home loan of ₹3.2 crore to purchase a builder floor in DLF Phase 4, Gurgaon. The property was priced at ₹4.5 crore. The borrower had already paid ₹1.3 crore as advance. The bank needed SPJ Advocates to confirm the property had a clear title before approving the loan.
On the ground, everything looked perfect. The seller had a registered sale deed, property tax was paid up to date, and the colony was an approved DLF colony with proper planning permissions.
We submitted a detailed Title Search Report to the bank with a clear recommendation: DO NOT APPROVE THIS LOAN. The report included the complete chain of ownership with the broken link highlighted, the pending court case, the society dues, and a risk summary in plain language that the bank's credit committee could understand.
The bank rejected the loan application. The borrower was initially upset because he had already paid ₹1.3 crore as advance. But when we explained the three problems, he realized we had saved him from buying a property he might never legally own.
We helped the borrower in send a legal notice to the seller, recovered ₹1.1 crore within 45 days, and helped him find a different property in DLF Phase 3 with a clean title, which we verified before he made any payment.
The bank has since referred 120+ title search matters to SPJ Advocates. Not a single property approved after our title search has faced any ownership dispute.
Buying property or approving a loan? A ₹25,000 title search today can save you from a ₹2 crore problem tomorrow.
📞 Call SPJ Advocates : +91-8920245815