I book an apartment in Karachi and paying their installments by cross cheque in the name of the project. After 8 months now builders want me to give only cross cheque leaving the space for name blank. The builder says to save the CVT they have to show low value of apartments, since all the money equivalent to value to be shown to government department is collected. They say it is normal trend. They will give proper receipt of the cheque. Should I give them the cheques or not?
@Asim jaffery
Apparently, CVT is not the issue in this case.Previously you was giving cheque that was being debited to Builder's account.Now it seems that developer don't want to deposit more money in that account.Now They will receive cheque,with blank name&will deposit to another account.
Developer's receipt is equally credible,as it is legal proof that u have paid installment,and can not be denied in court of Law.
Taking extra measure,get the signature or Developer's stamp on the photo-copy of cheque.You can write on photo-copy the detail of transaction,that why u are paying and why Developer is receiving.Also,Mention Installment No on copy.