Purchase resale flat with no apartments/society formed
Hi all,
First of all thanks to you all for guiding on various property related issue to buyers.
I want to buy a flat in building that has no apartment/society formed even after almost 20 yrs. I need to approach to nationalized banks for seeking loan for the property.
Following are few facts about the said property/Flat:
1. Building construction was completed when the land was under gram-panchayat, thereafter village got included under corporation around 16 yrs back.
2. Current owner is the third owner, say C, of the said flat, original copies of sale deed between A->B and B-> C are available, however I don't see any sale deed/registration document between Builder and owner A.
3. Blue prints (one sanctioned by gram-panchayat and the other by corporation later) are available.
4. Builder has provided the NOC for all purchase/sale transaction happened among A, B and C.
5. No OC and CC are available, however the current owner (even previous owner B) has electricity bill in his name.
6. The owner C is also paying all corporation taxes regularly.
Questions/queries:
1. Can the current owner get OC / CC? From whom should he approach to get it ( builder/corporation)?
2. Whats the risk if i buy property without OC/ CC?
3. What would be the role of current builder in case building goes for re-development in future?
4. Would there be any intervention by builder in case I wish to sell the said flat in future?
Please guide me on this.
Thanks.
Asked 7 years ago in Property Law
Religion: Hindu