Message from a Broker
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Unitech Launch Floors in Nirvana Country -3 Sec -70 Gurgaon, in 1st week of June.

Tentative Area – 180, 240,360,400 and 500 sqyd.

Cheque Amount – 6lac and 10 lac.

In favour of “Unitech Ltd”.
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  • Originally Posted by RituArora
    Guys...who all have done transfer in this property please provide me the process...do's and dont's if they face any....
    its my first lifetime decision so please help me...

    can someone please provide me the transfer process ? Also what all documents are required in the transfer process....just want to check the unitech process ?

    Ritu


    Hi Ritu,

    The transfer process is very simple if you have all documents ready. There is a transfer kit which you can asked from Unitech or I can also provide to you but not sure if this is changed

    Below are the documents which Unitech Require for transfer:

    • Payment of All Outstanding Dues. (In Form of Demand Draft Only)
    • Payment of Administrative Charges.(In Form of Separate Demand Draft Only) – Rs. 75/- per sqft + 12.36% (Service tax) payable in favor of “Unitech Limited Anthea Floors Sales A/c”.
    • Request on enclosed Format by the Allottee(s).
    • Request on the enclosed format by the Transferee(s).
    • Indemnity Bond on Stamp Paper of Rs.100.00 duly attested by Public Notary.
    • If the seller is NRI, then the Indemnity Bond must be attested by the Indian High Commissioner.
    • Attestation of Specimen Signature of the Allottee(s) as well as Transferee(s) by the Public notary.
    • Affidavit regarding Loss of Official Receipts (if any) duly attested by the Public notary.
    • Return of all Original Receipts and Original Agreement.
    • In case Transferee(s) is an NRI than a certificate from the Banker is required that the Transferee had made all payments to the Transferor from his NRE/NRI/NRO A/C. only.
    • NOC from Financial Institute.
    • Payment of all Outstanding Dues of Maintenance Charges at Site Office (if any).
    • PAN No. / Form 60 of Allottee(s) as well as Transferee(s) & Transferor(s).
    • Application form duly signed by the purchaser.
    • Photograph of the allottee/(s) and as well as seller. Application form duly signed by the purchaser.
    • Photograph of the purchaser(s).
    • Signature Verification from bank of both the transferor(s) & Transferee (s).
    • In case Transfer is through Power of Attorney, then Registered POA is required.

    May be some if the item not applicable to you.

    You need to take appointment with a unitech for day of transfer. Pls note they do not accept transfer on Saturday. On that day you and seller needs to go there and they will accept your documents and provide you a receipt. Then after 1 month you will get the transfer documents from Unitech.

    Happy New Year

    Mgogia2
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  • Thanks Mgogia2..this is quite informative. Does unitech takes one month .....? because all the amount is already paid to the seller so just in case...

    what all documents are provided to the new buyer after 1 month and on the day of transfer ? Can they make it quick ...i mean in less than a month...

    Thanks
    Ritu
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  • Originally Posted by RituArora
    Thanks Mgogia2..this is quite informative. Does unitech takes one month .....? because all the amount is already paid to the seller so just in case...
    what all documents are provided to the new buyer after 1 month and on the day of transfer ? Can they make it quick ...i mean in less than a month...

    Thanks
    Ritu


    Transfer happens the same day itself if appointment is taken in advance. The original document set takes about a week or so, to be collected by transferee.
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  • when you say original document set...what all it contains ?? Could you please be specific in this...
    Thanks in advance.

    Also the amount we pay in white to seller (first owner)...do we need to pay TDS 1% to income tax ? Because the amount paid by him to builder was before 1 june 2013 so does that amount now comes under TDS deduction ? The new installments in later stage do come under TDS for sure.

    Ritu
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  • Dear mgogia2 and others....
    i am waiting for reply for my query in last thread...

    Appreciate if u can provide some details..

    Thanks
    Ritu
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  • A very interesting article about all under construction and almost completed projects of Unitech . Gives a very clear insight - both - for end users as well as investors about what to expect in the near and long term future from Unitech . Must read . Here is the link below :
    http://.com/unitechs-construction-pattern-equity-analysts-apartment-buyers-derive/
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  • Originally Posted by vishing
    A very interesting article about all under construction and almost completed projects of Unitech . Gives a very clear insight - both - for end users as well as investors about what to expect in the near and long term future from Unitech . Must read . Here is the link below :
    http://.com/unitechs-construction-pattern-equity-analysts-apartment-buyers-derive/


    Sir - link is broken. Please publish again.
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  • Any construction update guys?
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  • Can someone share any update on construction? What pace it is on ? How many workers approx. are working on site ? I am not in NCR to check on it myself so any info will be great help.

    I am really worried on construction. today I called unitech and they said it will take 36 months from start of construction i.e from now. Which means from today they are quoting 36 months (on pre launching they quoted same 36 months and no change till date to it) and I think we need to wait for minimum another 5 years :(.

    Even after 2.5 years there is no clarity on possession time. Nobody can even predict which year uni tech is going to handover
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  • Hi,

    Unitech will get 36 months for construction from the signing date of BBA, they cannot create dates like you mentioned from today or from tomorrow etc........for any further delay then 36 months + 3 they will be penalized with the agreed amount in BBA .........
    but that amount is nothing for these people so dey dun't bother .........................



    Originally Posted by manusingh01
    Can someone share any update on construction? What pace it is on ? How many workers approx. are working on site ? I am not in NCR to check on it myself so any info will be great help.

    I am really worried on construction. today I called unitech and they said it will take 36 months from start of construction i.e from now. Which means from today they are quoting 36 months (on pre launching they quoted same 36 months and no change till date to it) and I think we need to wait for minimum another 5 years :(.

    Even after 2.5 years there is no clarity on possession time. Nobody can even predict which year uni tech is going to handover
    CommentQuote
  • Originally Posted by manusingh01
    Can someone share any update on construction? What pace it is on ? How many workers approx. are working on site ? I am not in NCR to check on it myself so any info will be great help.

    I am really worried on construction. today I called unitech and they said it will take 36 months from start of construction i.e from now. Which means from today they are quoting 36 months (on pre launching they quoted same 36 months and no change till date to it) and I think we need to wait for minimum another 5 years :(.

    Even after 2.5 years there is no clarity on possession time. Nobody can even predict which year uni tech is going to handover


    Manuji ,
    With Unitech you can be sure of only one thing - lies ! They will never give you a clear picture and you will be unfortunately left hanging on for years . Take it from someone who has had first hand experience - not once but twice - first with Unitech Close South - launched in 2004 promised in 2007 actual delivery took place in 2012 - 5 years delay ! And the second - Unitech Harmony - launched in 2006 - delivery was to be in 2009 and its now 2014 and apartment is still not delivered !!!
    Actually if you have a construction linked plan , if i were you , i would exit asap as only a small portion would have gone to them as they have not even started construction . According to a recent article ( i had posted a link to the said article as well ) , Unitech's strategy is right now to raise funds and the easiest way to do that is to start construction and make demands so they have easy liquid cash , which they need to pay off the interest on their debt , once the structure is ready and they have collected 90% of the payment due , then they would just keep you hanging as they have no money to complete these projects ( its common knowledge that to complete the structure only 50 % money is needed whereas they collect 90% of the money ) . The rest requires huge capital investment from their side with only 10% money coming in and they just dont have the funds to complete their projects .
    Think about it ...
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  • Ritu... sorry for late reply..

    Yes all the money you need to paid to seller on the day of transfer you will get one acknowledgement receipt from Unitech. it is basically receipt of transfer charges. Then the document take at least 1 month to get in your name. I have done the same in Feb and got our document in March... They take this much of time. They will not issue new BBA but they confirm that now this is your property.

    All the documents are fine. Also we have not deducted any TDS on same.
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  • Mgogia ji
    How would they show other party name over it when they dont issue new bba..

    Do the new buyer get penalty as per original agreement ?


    Originally Posted by mgogia2
    Ritu... sorry for late reply..

    Yes all the money you need to paid to seller on the day of transfer you will get one acknowledgement receipt from Unitech. it is basically receipt of transfer charges. Then the document take at least 1 month to get in your name. I have done the same in Feb and got our document in March... They take this much of time. They will not issue new BBA but they confirm that now this is your property.

    All the documents are fine. Also we have not deducted any TDS on same.





    Sent from my iPhone using Tapatalk - now Free
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  • Unitech will add a new page at the back of BBA with endorsement..which has the signatures of seller , buyer and unitech. Unitech will also issue a letter stating that account statement and payment plan in new buyers name. This will confirm its in ur name.

    Also TDS needs to be paid to the seller whatever amount is paid to him because otherwise in the end at the time registration u can have issues.

    What is the current premium in these floors currently..191 sq yards ? I am getting different responses from diff brokers but as the market is down...one can expect lower premium these days ....as unitech is asking new demands too.

    Anyone selling his/her unit ?
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  • Dear mitraa

    No builder ever give penalty...at the max they can adjust it with the amount they charge for area increased at the time posession but even those chances are very less. Unitech is very cleaver in all these and they have very good lawyers....
    unless all the owners are united it is tough to get even a single rupee from these big builders. You have to go by their terms and if any term is in favour of u in the BBA it gets nulliefied after 7-8yrs of wait as ennd user is dying to get the house and he agrees in their terms.
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