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Property - we are planning to buy one flat
10 months ago
we are planning to buy one flat where builder has not formed society yet from last 20 years. Owner had registration and all clear docs but only society not formed. is it safe to buy this flat
A.Dear Client,
Without being satisfied yourself with the experiences facing by the co-residents of the said building who have been living there for a long time without forming any society, it may not be a wise decision/plan to buy a flat in the said building which is run by Builder since 20 years without forming any society. A society of residents registered under the relevant Act ensures the protection of common interests/benefits and security to the residents of the Building.
Without being satisfied yourself with the experiences facing by the co-residents of the said building who have been living there for a long time without forming any society, it may not be a wise decision/plan to buy a flat in the said building which is run by Builder since 20 years without forming any society. A society of residents registered under the relevant Act ensures the protection of common interests/benefits and security to the residents of the Building.
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A.Dear client,
It is important to research well because sometimes when society is not formed you might get the flat at a discount price. The bottom line is that if you are planning to buy property in an unregistered society, you will have to take more precautions than you would for a registered one.
It is important to research well because sometimes when society is not formed you might get the flat at a discount price. The bottom line is that if you are planning to buy property in an unregistered society, you will have to take more precautions than you would for a registered one.
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