Guidance for buying a resale new flat (society not formed)
I am about to give token to buy a flat which has been recently handed over to the owner by the builder. Society is not yet formed. Need guidance on following questions:
1) owner has paid two years advance maintenance fee which is valid till March 2019. However, I heard from direct sales person of the builder that I have to again pay the maintenance charges for 2 years in advance. Is it legal? If no, how can I defend this demand? Owner does not have payments receipts but all these charges are mentioned in the agreement between builder and owner.
2) owner is saying that there should not be such charged levied by the builder and hence before taking the deal forward, we both agreed to obtain NOC from the builder so that we get clarity on all charges to be levied by the builder. Is it true that once NOC is issued, builder can not demand any charges (including maintenance fee) from the buyer?
3)At what stage builder will register my name in his record and transfer all memberships (e. G. Clubhouse, parking ) and connections (e. G. Electricity, water, gas etc) in my name? Is there a possibility that after issuance of NOC, builder may deny registering my name without payment of demanded sum (such as paying maintenance fee again)?
4) do I need to enter into any agreement or other arrangements with builder for getting my name registered in builder's record before or after registering sale agreement (between me and seller) at local registrar office with payment of stamp duty.
5) any other material advice on the above deal?
6) pls Guide me step by step process and list of documents that I need to execute and obtain from various parties involved (owner and builder)
I am going to avail loan from the same bank from which current owner has taken the loan.
Asked 8 years ago in Property Law
Religion: Hindu
Thanks to all for your valuable inputs. I have a follow up question on the above matter as under:
In the process of obtaining NOC from the builder, builder has asked from the prospective buyer (me) to submit a request letter in a prescribed format which inter alia includes following clauses:
A. I undertake to observe and perform all the terms and conditions, and obligations of Agreement to Sell dated _____ duly registered with the Registrar of Sub-Assurance at ________ on bearing No. ________ executed between the purchaser thereof (the Seller) and ___(Name of the Company)___ (“Agreement to Sell”) and Letter dated ___ (“Letter”) and Declaration cum Indemnity dated ___ (“Declaration”). I shall be also bound to observe all the obligations under all the rules and regulations and bye-laws applicable to the said Residential Flat.
B. I hereby indemnify you and shall keep you indemnified and defended and hold harmless from and against any and all liabilities, damages, demands, claims (including third party), actions, judgments or cause of action, assessment and other costs arising out of, or in relation to: a) any breach of any representation and warranty, covenant or default pursuant to this letter, Agreement to Sell and/or the terms of the NOC; b) any liability due to non-compliance of (i) any obligation under this Agreement and/or NOC, (ii) breach of applicable law.
While I am going to read the above referred documents executed between existing owner and the builder. Kindly, advise what precautions should I take. Do you sense any risk in signing the above undertaking?
Additionally, while the existing owner has got a parking allotment letter from the builder, nothing is mentioned about parking in the sale agreement signed between builder and existing owner. Please advise if I need to take any extra precautions in relation to Parking area. Not sure whether I will be entitled to the said parking by default or builder may confiscate the said parking?
Asked 8 years ago