This is to discuss regarding the POA, i do not have any idea about it, like how its done and what are the key things that need to be taken care while buying flat using the POA. Senior members or anyone who has gone through this process please share the details. Thanks !!!
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  • Hi, could u pls guide me in this situation:

    I'm getting a flat with multiple POA's and registries. First, there was a land. Registry done to 2nd party. POA done to 3rd. Registry for 4th and he built flats from the land. Now POA for next party, registry for next and POA for next. Last party has registry. What all factors should be considered while going for this deal. Legally, this property seems hassle free but it has been sold a number of times(this has been sold every year) and no one is staying in the property. This property is in posh area and can fetch decent returns. Bank is also ready to give loan. What do you suggest on this?
  • it seems to be totally illegally, those people are trying to avoide stampduty and just finish it with a 100.Rs POA. Even if the land owner has give 100% rights to sell the property the power agent can sell the property to some one but has to execute a sale deed he again cannot go for a POA. A power agent cannot give powers to anyone thats what law. If a power agent can again execute a POA no one will pay stamp duty tax (just think) You can belive that banks give loan but dont TRUST 100% on all banks. As there is a lot of compatation in Home Loan many illegal things come to happen, that too mostly in pre approved bank loans - where the bribe is given before to the banks to hide the encumbrence on the property. Just be carefull and take the documents to that Sub-Register offfice and enquire that is possible he will surely reject it, have a better legal advice ONLY from a CIVIL ADVOCATE who has experience more than 10 years