wait until builder obtains OC
2) since builder is confident of obtaining OC within 2 months do not purchase flat now
3) construction on 5th floor is unauthorised and liable to be demolished
4) you cannot trust the builder
Part of the Flat mortgaged;building has no Occupancy Certificate
Hi, We're planning to purchase 2bhk flat at first floor. We came to know that 30% of OUR flat and 1 more complete flat are under mortgage. Builder (owner) says they have applied for Occupancy Certificate and would be provided within a month or 2. He says loan will be sanctioned and registration will be done without hassle. [Without Occupancy Ceritificate] 6 to 7 flats (out of 15) are already registered and 2 flats are occupied already. As per HMDA permission, 4 floors should be constructed; but he constructed 3 flats on 5th floor as well ! Building has got HMDA permission and all documents are fine. Can I trust this builder and proceed with purchase of the flat? If so, what surity I need to ask builder until he provides Occupancy Certificate
Asked 8 years ago in Property Law
Religion: Hindu
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
5 Answers
Came to know that one more party is ready to purchase the same flat and we (builder and me) planned for initial agreement today. If we do not proceed, the other party would purchase the flat !
Asked 8 years ago
1) where your hard earned money is concerned you should never take any risk .
2) if builder does not obtain OC in 2 months would he be willing to refund your money ?
3) after demonetisation there are hardly any buyers for property
Hi, the OC is obtained after the project is completed .. Before the builder gives you the posession he has to clear all the loans and dues .. If he has obtained permission for the 5 th floor , you can proceed with the agreement
If there are deviations in construction, the builder will not be able to obtain the OC from the competent authority and he will ignore the matter once he completed the construction and handed over the possession after registration.
The buyer will be at stake when the competent authorities decide to demolish the unapproved constructions.
Have you verified that up to what extent the HMDA has approved the plan, whether it is for the unauthorised and unapproved construction on the 5th floor also?
Have you referred to a local advocate and obtained a proper legal opinion on the property on loan which you intend to buy?
Came to know that one more party is ready to purchase the same flat and we (builder and me) planned for initial agreement today. If we do not proceed, the other party would purchase the flat !
It does not means that there is a party ready for purchase this has to be genuine, you first obtain legal opinion and go ahead otherwise you may allow the other party to buy it.