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Need help regarding buying a flat.

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Need help regarding buying a flat.

Last updated: July 10 2013
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  • Need help regarding buying a flat.

    Hi All,
    I am planning to buy a flat in an apartment, which was completed 10 months ago. Only one flat is available now. Later, we came to know that the flat was bought by someone and they are willing to exit before registration after some profit. As of now, Legally, the flat is not registered and it is with builder. So, the onus is on builder to register the property. As of now, this property is quoted little bit lesser than the market price. Can I go ahead with this property?
    In that case, do I need to get any NOC from the third person, who had bought the property (without registering) and planning to sell now?

    -AKR
  • #2

    #2

    Re : Need help regarding buying a flat.

    There will be no problem
    Confirm that No Construction Agreement is made and No UDS registeration is made

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    • #3

      #3

      Re : Need help regarding buying a flat.

      Originally posted by Arunkumar85 View Post
      Hi All,
      I am planning to buy a flat in an apartment, which was completed 10 months ago. Only one flat is available now. Later, we came to know that the flat was bought by someone and they are willing to exit before registration after some profit. As of now, Legally, the flat is not registered and it is with builder. So, the onus is on builder to register the property. As of now, this property is quoted little bit lesser than the market price. Can I go ahead with this property?
      In that case, do I need to get any NOC from the third person, who had bought the property (without registering) and planning to sell now?

      -AKR
      Is the apartment brought with a Bank Loan? I assume not.

      Since it is not registered

      1) Get the original sale deed and construction agreement. Both copies builder as well as previous owner. Void it.

      2) Ask the builder to issue an allotment cancellation letter in proper letter head, signed by previous owner and builder. Get an original copy signed and keep it with you?

      3) Get all the original payment receipt.

      3) Once registered in your name, get an EC from the registration office through builder for your flat.

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      • #4

        #4

        Re : Need help regarding buying a flat.

        Assignment deed ( Tripartite Agereemeng ) is perfect by involving Builder, original buyer and new buyer since it will resolve all the issues emanating from day one to protect legal rights be it from bank,third party, builders due if any, penalty for late payments etc.

        Only through this way , once can secure clear title whatever be the way the original buyer secured loan from bank and delay with builder erroneously .
        Last edited July 10 2013, 01:45 AM.

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        • #5

          #5

          Re : Need help regarding buying a flat.

          Thanks a lot bala, srivats and Ravi .

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