Sir you need joint development agreement and sharing agreement to sell the flat it is better if the agreement is registered as the prospective buyers can ask for registered agreements though you can sell based on the notarized agreement.
Joint development agreement
I had a joint development agreement with a developer which was just notary and not registered. now as the building is completed, he is given me a completion certificate and a possesion certificate. wanted to know whether this is all ok or have to register the same in registrar office. and and if further have to sell my flat will this document be enough or have to get any other document from the developer
Asked 7 years ago in Property Law
Religion: Hindu
12 Answers
Dear Client,
IS this agreement executed on 500 rs stamp ? Well, if dispute would have arise between you and builder than it was a problem. Now agreement is complete. No issues, you can sell flats to any.
Dear Sir,
Usually joint agreement must be registered which prescribes each one's shares, duties and responsibilities etc., But so many people not getting it registered going for second step that is Sale deed. Thus it is not fine without getting legally described and getting ownership under JDA you cannot have further rights.
1) Kindly register flat at registrar office by paying stamp duty and registration charges, so you can sell it future.
In whose name does the property developed stand? The joint development agreement has to be studied fully in order to render proper advice, please.
Joint development agreement should be registered
2) further supplementary sharing agreement between builder and you should be registered
The soul of the agreement all the time based on the trust if trust is there then no harm but in one aspect it will be not proper because when you will go for sale, you should have a registered agreement because every buyer will ask for the registry and at that time you will be in need of a registered agreement.
Development agreement needs to be registered with the registrar office
These documents are sufficient in addition to title deeds.
the joint development agreement between builder and the landowner should be registered in sub-registrar office. One of the most common practice is to get Joint Development Agreement (JDA) notarized or sign it on the stamp paper of Rs 200.
Hi,
You may enter into a fresh agreement stating all the facts and get that registered. It will solve the issues.
The JDA is not mandatorily to be registered.
The possession letter and unregistered JDA agreement will take of all the other issues.
