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All power of Attorney Property Deals Banned, Delhi
May 4 2012 , 01:19 PM   #11
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Yeah, i read today in TOI this article, and thanks for the feedback guys.
So this will mean I cannot sell my property anymore unless I convert this to freehold.

They keep mentioning that unless I get the Sale Deed registered, but on a GPA that's not possible anymore. The end result looks like get this freehold, but this being a floor, I will have to get consent of members of all the floors in my building and then proceed, it can also mean to get the No objection certificate, there could some make, break construction in the building to bring it to the terms of the correct specifications before we pass it, and make it freehold.

Please correct me if I am wrong. I don't know if all this is above is possible unless they allow independent floors to be converted to freehold, then for sure I can take care of my apartment and convert to freehold.

So no more leasehold properties will be sold in Delhi now? or nearby states for that matter? Chapter closed for ever now?
May 4 2012 , 02:45 PM   #12
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GPA Deals

All GPA deals in Unauthorised colonies of Delhi like nihal vihar,vasant kunj enclave madhu vihar etc are now not possible as you can no longer sell on GPA unless you convert the plot to freehold which will be difficult in these cases as plots have been subdivided from larger plots and sold on GPS/WILL so be careful do not buy anything on GPA now in delhi as your money is 0 ias you cant enforce the document in court.
May 23 2012 , 03:42 AM   #13
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Hi friends,

I own a builder floor in Delhi which was bought 15 years back on POA that is registered. Other floor owners on the same plot are not willing to apply for floor registry or converting the individual floors to freehold.

I read about a Supreme Court decision discontinuing the Sale of houses in Delhi with GPoA.

Now, do I have an option to apply without other floor owners consent for the registry of my floor on my name / freehold?


Hoping for a quick reply!

Thanks,
Amit
June 3 2012 , 05:48 PM   #14
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What about leasehold properties such as bhikaji place ? The sale is - nominee transfer in the builder record, is it also effected ?
June 4 2012 , 09:07 AM   #15
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Yes, I think you can get your floor registered as far as it is in legal colony and could get registered.



Quote:
Originally Posted by amitkapoor7
Hi friends,

I own a builder floor in Delhi which was bought 15 years back on POA that is registered. Other floor owners on the same plot are not willing to apply for floor registry or converting the individual floors to freehold.

I read about a Supreme Court decision discontinuing the Sale of houses in Delhi with GPoA.

Now, do I have an option to apply without other floor owners consent for the registry of my floor on my name / freehold?


Hoping for a quick reply!

Thanks,
Amit
June 4 2012 , 10:49 PM   #16
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Any suggestions on if there is a buyer who wants to still buy leasehold sale in an authorized colony like kalkaji saying he can get it registered in noida or outside delhi or he might not even get registered until they permit leasehold sale again. Is there a risk in this?

He says he can pay in 5 days the entire amount, if he registers in noida then the deal closes there.

However, if he doesn't want to register in UP then he wants to have it in the ATS mentioned that;
a) this property will await registration until it opens again, for leasehold.
b) the seller will not assist in any freehold preparation in the future
c) the buyer will bear all costs for the freehold expense in future
d) a payment sum total of 5 lakh rupees will be due to the seller when the registration opens as point (a) above

How does this sound as far as the paper work protecting both parties is concerned?

Awaiting reply.
June 5 2012 , 08:01 PM   #17
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With all this chaos over GPA and ATS, I think it would be better to stay away from these kind of deals. Any agreement in Noida court won't work in Delhi and specially after strict guidelines from government about it.
Be careful, while selling and signing any ATS with the buyer. If he is a crook or local property dealer then you might get stuck with him after receiving the advance payment.
June 6 2012 , 05:23 PM   #18
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Thanks for your reply. I agree with you and since we can't tell so simply how genuine a person can be and what his intentions are, it is best to stay away when times are bad even though in this case I am the seller, and only have to receive the full amount up front.

However, I just got news few minutes back that leasehold registration is opening up on Monday. Well, if that happens then it's good news for sure.

Any one have that info?
June 7 2012 , 01:58 AM   #19
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If the registry opens on the leasehold then it would also helps you in getting extra premium on your property.

Wait and watch and don't part with your property unless you really need the money.
June 7 2012 , 05:04 AM   #20
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Quote:
Originally Posted by rahul2002b
Thanks for your reply. I agree with you and since we can't tell so simply how genuine a person can be and what his intentions are, it is best to stay away when times are bad even though in this case I am the seller, and only have to receive the full amount up front.

However, I just got news few minutes back that leasehold registration is opening up on Monday. Well, if that happens then it's good news for sure.

Any one have that info?
Do you mean next Monday?
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