Dear Sir, I have purchase a flat in santacruz vakola, this property is build under private scheme of sra, i have taken a loan on this property. the seller has purchase this property in 2012 from a lady who was having slum over there, but the chain of agreement shows that builder has sell the flat to that lady as free of cost & the same agreement is registered, society is still not form. The seller has given me the noc from builder. Building has OC from BMC . Is this property is clear title ?? will i have to face any difficulty from the first owner while forming society.
Can any family member from the first owner can create any problem in future or make a claim against that property? Do i need to worry for this?
1) No allottee of a rehabilitation flat in an SRA (Slum rehabilitation Authority) scheme can transfer the flat for a period of 10 years,
2) gift deeds'' and "power of attorney'' used to transfer the flats were of "no consequence''.
3) bombay high court has ruled that Flats allotted under a slum rehab scheme cannot be sold or transferred, The court ordered the police to take possession of all four flats and seal them.
4) you dont have clear and marketable title to the flat
The family members can pose problem only if they have share in it. Whether they have share in it can only be ascertained by causing searches from local Registry Office and on perusal of the relevant title deeds.
So it will be better if you get the papers checked physically by a local lawyer.
There cannot be a sale without consideration. Notwithstanding the NOC given by the builder the builder or his legal heirs, as the case may be, can file a lawsuit to claim that he is the owner of the property, which if decreed will overthrow the chain of ownership formed subsequently.
What about the title document?, have you verified the original title document and its mother document?
If not consult a local lawyer and then proceed.
