Hi, I am currently looking to buy a re-sale apartment and have the following doubts. I have described by situation below. Please help me with the process. The current owner has registered the apartment to his name (by executing a registered sale deed with the developer), but hasn't yet received the possession of the apartment from the developer as the apartment building is still in the final stages of finishing and will be finished in a few months from now. So, the current owner had bought the apartment and got it registered recently in his name. Now, he wants to sell it and is quoting a reasonable price. I am interested in buying this apartment but have a few queries mentioned below. 1. What is the process in this case? 2. Can the developer refuse to give possession to us after we have bought the apartment from the current owner? (As in their records only the current owner name would be mentioned) 3. Do we need to contact the developer or take any documents from them before we buy the apartment? 4. Can the developer quote any charges to change the name in their records and hand over the possession to us? Please help with your insights on this, and let me know if any clarifications required. Thanks.
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1) ask seller to obtain builder consent for sale of flat
2) builder would levy transfer charges . Your agreement with seller should specify who will pay the transfer charges
3) in addition ask seller to obtain no dues certificate from builder
4) get sale deed vetted by local lawyer
1. Since the current owner is the owner of the apartment, having paid the entire amount towards the sale proceedings to the developer and got it registered in his name from the developer,. you have to enter into an Agreement of Sale, with the current owner only.
2. Before buying the apartment, you have to ensure that, whether any money has to be paid to the developer or any NOC has to be obtained by the current owner from the developer or the association, for resale of the apartment.
3. You can meet the developer, along with the current owner, to obtain the required information.
4. Likely that the developer may charge some amount for resale of the apartment.
5. You can get the property papers verified by a Lawyer, before going ahead.
No need to contact the developer just check with the Society if any for NOC in the same. Check for any legal heir in the same if yes get noc for the same. Rest everything is ok
1 . The buyer shall make a sale deed in your favour , you need to pay stamp duty and register same with the sub registrar office.
2 the current owner can inform and can take noc from.developer then there shall be no issue.
3. Take Formal NOC from the developer as seller to get NOC for.sale from developer the developer shall give you same.
4. No they will not take any charges as not legally permissible.
Possesion is not everything. You should get a NOC from the builder. Let the builder put it on some paper that he knows that you are purchasing the flat. There is some agreement between the builder and the first buyer. When you have an agreement with the first buyer and take a NOC from the builder, you inherit the clauses of the agreement between the builder and the first seller. Then your position is more legitimate in legal terms. whatever the builder was supposed to do for the first buyer, he would need to do for you. Like society/apartment association formation etc.
1. The process is simple. First get the property papers checked by a local lawyer and then proceed with the purchase by making a deed of sale and getting registered it.
2. Since developer has already sold the property, it has no authority to refuse to deliver physical possession to you.
3. No, this is not compulsory but there is no harm in taking the developer into confidence as well.
4. No, it can not do so.
Thank you all for the responses. I have one more question, please help me with it. Since, the current owner has not got physical possession of the flat yet, the owner doesn't have a Khata yet. He will receive the Khata after the developer finishes the project which might take a few more months. Will I be able to buy the propertynow or get the property registered at a sub-registrar office without the current owner having a Khata in their name? Thanks.
Yes based on the sale deed and index, the seller can sell the property to you and builder can be confirming party and can give NOC.
1. The current owner has to execute a registered sale deed in your name.
2. Since the possession has not been delivered you may have to wait until then because the builder may not hand over the property to you.
3. The developer may not hand over the documents nor he may entertain you.
You have to be in touch with your vendor alone.
4. He may charge transfer fee from you.
Khata has nothing to do with the registration of sale deed in your favor.
However it is advisable that let the khata be made on the vendor's name first after which you can get the property registered in your name.
Since current owner has registered sale deed executed in his favour mutation of flat has to be done in his name first then only mutation can be done in your name
If the current owner is not having good title he can't pass a good title to you. It will be a defective title to you.