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Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

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Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

Last updated: October 25 2018
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  • Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

    I booked a flat in August 2015. Construction is at the stage of laying tiles. I want to sell my flat and also found a buyer. I want to transfer the flat to the new buyer before registration is done. My builder says he will only transfer after he gets the occupancy certificatE. My agreement has a clause that the builder can transfer the property to another name by charging transfer fee up to 10%. Some time back he told me, he will do the transfer immediately, now he says I will have to wait. Also he said he will charge transfer fees equivalent to my registration costs. I am worried that If I wait, my buyer might loose interest or anything can happen. Can I proceed legally if the builder refuses to transfer now? Property is scheduled to be finished by March 2019. Please help. Any info is appreciate.
  • #2

    #2

    Re : Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

    Yes, as the agreement states that the Apartment can be transferred after charging a certain fees, you can take the legal approach, if the Builder is refusing to transfer the same .
    Please read IREF rules | FAQ's

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    • #3

      #3

      Re : Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

      Hi can I get more suggestions on what to do please. Legal route might unnecessarily eat up my time. Is there anything that I can do quick to make the builder agree for transfer without registration and that too now.

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      • #4

        #4

        Re : Builder wants me to wait till they get occupancy certificate to transfer my under construction flat to another buyer

        Originally posted by srilakshmi.patibandla View Post
        Hi can I get more suggestions on what to do please. Legal route might unnecessarily eat up my time. Is there anything that I can do quick to make the builder agree for transfer without registration and that too now.
        Legal approach should always be the last option because of the time, finances involved & it is hard to fight a Builder individually because of the Builder's financial & muscle power.

        Approach the Builder & try convincing him. If he doesn't agree, send him an letter quoting the clause and threatening legal action, this might resolve the issue .

        If nothing helps, then legal approach would be the only way out or u could wait till the Builder gets an OC .
        Please read IREF rules | FAQ's

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