Shall I got Agreement to Sub lease or wait for actual Sub lease?
2 years ago
Hi respected Lawyers,
I have recently purchase a property in Greater Noida.
Builder has not payed some of the dues to authority in the past and hence Authroity have stopped the property regsitration and going with Agreemet to Sub lease option at the moment.
Althought Authority talks about only Rs 50 stamp paper for registry Since 2018 but we need to pay the Registrar fees of Rs 50000 twice, one at the time of Agreement of Sub lease and again at the time of actual Sub lease. Also with Agreemnt to Sub lease, I cant sell the property and bring the total liability on me instead of Builder.
My broker is saying that we can ask Builder to prepare document for SUB LEASE only and skip the agreement to Sub lease option. We can take possession from Builder with this and submit the documents fo Sub lease in Authority and wait.
Please advise if this could be a good option or I might get into trouble doing this.
You cannot have complete rights over a property in a sub lease agreement, you would be required to register that property in your name in order to sell that property and have complete rights over that. Although you could go with the option broker is suggesting to have the possession of that property.
Thanks
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