Our ancestral property land has been given to builder for development of apartment through GPA to the bulider. Builder shared flats has been sold to others as per his share and land owners flats need to be registered as gift deed to his grandchildren in the sub registrar office. what is the process of registering gift deed. Builder has done un-registered development agreement.
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
Based on the sharing agreement between Landowner and developer in which total constructed flats would have been demarcated between them.
The owners, based on above, can register the flats which fell to their share, as Donors in favour of their grandchildren, as Donees in the jurisdictional Sub Registrar's Office.
Hi Sir, in the un-registered development agreement only sharing ratio with owner 43% and builder share of 57% is mentioned. They did not menctioned which flats should be given to builders and flat owners. GPA is registered in the sub-register office. The flat property tax is on the my fathers name and the flat needs to be gifted to my mother and the land owner is my grandmother. Please let me know the the supporting documents to be presented at the sub register office to register the flat
Sharing agreement between builder and land owner ought to be registered
landowner can then execute registered gift deed in favour of his grand children
Suplementary sharing agreement to be executed should mention the flats which fall on builder share and flats which fall on the land owner
it should be stamped and registered
Hi Sir, Land owners who gave GPA to builders passed away in 2001 and builder live in hyd. Please let me know what can be done to obtain supplementary sharing documents. Builder sold his share of flats to outsiders without supplementary document and only GPA (Not development agreement CUM GPA).
You don’t have clear and marketable title to flats
unregistered agreement does not confer any title to flats
avail amnesty scheme and register the development agreement
Hi Ajay Sir, Property located in telangana hyderabad district. We dont have such schemes in telangana i guess
Deed of confirmation can be executed by builder that x flats were the shares of landowner in sharing agreement
JDA is a common arrangement between landowners and builders. In a JDA, the landowner transfers their development rights to the builder, who constructs a building on the land. The landowner can then choose to keep their share of flats or sell them to buyers.
Other things to consider when entering into a JDA include:
Clear communication
Both parties should communicate clearly to ensure the success of the agreement.
Taxation
The taxation of a JDA transaction is different from a capital gains transaction.
GST
The developer should show the sale of flats allotted to the landowner in their returns, but not in their profit and loss account.
It's important to register a JDA because it prevents the builder and landowner from disputing the agreement's terms and conditions.
It's common to get the JDA notarized or signed on stamp paper worth Rs 200.
If the owner keeps their share of the built-up area, a construction agreement must be made with the developer and registered.
Merely getting the documents notarized won't protect you from future consequences.
You should get a supplementary agreement registered in addition to the main document.
The legal heirs of the property can also enter into the supplementary agreement with the builders and get it registered
An unregistered joint development agreement is not enforceable in law.
At this stage you may look for regularisation of existing situation if there's any scheme available.
there are property regularization schemes in Telangana, including the Layout Regularization Scheme (LRS) and the Sada Bainama land registration scheme:
The Telangana government has extended an invitation for individuals from the weaker sections, slum dwellers, and low-and middle-income groups to apply for the regularisation of their land used for residential house construction on small parcels. Applications can be submitted at any MEESEVA centre.
You will require a gift deed or will to do the same and get it registered. The supporting documents are title documents in name of your grandmother
- As per law, A development agreement is a contract between a landowner and a developer where the landowner provides land and the developer undertakes to develop it by constructing buildings.
- Further, as per Section 10 of the Indian Contract Act, all agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not expressly declared to be void.
- Further, a development agreement is a statement of understanding between two or more parties which when made has no enforceability in the eyes of law , as such an agreement has no intention to create a legal bond between such persons.
- But , when the development agreement has been made as per section 10 of the Indian contract Act, then it is a valid agreement.
- Hence, if there is mention that the landowner will have his right to transfer his share to anyone on the basis of this agreement , then the landowner can execute gift deed to his children on the basis of the unregistered development agreement .
