Collector land
Collector land
Hi I bought an apartment in 2019 in Mumbai of a collector land. At the time the seller didn't provide us with the Noc of the collector and now I am selling the flat and the society wants collectors NO
7 months ago
A. Dear client,
For renting, mortgaging, gifting and selling these properties, the property owners need the prior permission of the collector. Apart from taking the collector permission to carry out the transaction, property owners have to pay a transfer fee if they plan to sell their property.
You can approach the collector office and ask for the same
Rental property
I have a will that states that my late grandfather wants me and my sister to inherit a rental property after the death of his wife (alive). His wife and her family do not communicate with us but we ha
7 months ago
A. Dear client,
Once the beneficiaries and their shares, rights and liabilities are decided, the property has to be transferred in their names. For this you need to apply for property transfer at the sub-registrar's office. “In most of the cases (documents needed are) Will; or Will with probate or succession certificate.
Refund of amount from colony owner
I have booked a plot in a colony and paid 75% amount. 60% in white and 40% in cash. Anyway i lost interest in property and the builder advised me to transfer it to other party before registration. So
7 months ago
A. Dear client,
You can send a legal notice to them demanding your money. In case there is no reply, the you can file a money recovery suit against him to get back your money paid.
Owner refusing to return advance paid for sale of flat
Hello, I paid 1 lakh rupees through bank transfer as advance to collect documents for verification to purchase a flat. There was no written agreement made. I don't want to go ahead with the purchase
7 months ago
A. Dear Client,
In the absence of any written agreement to sale, when the earnest money is transferred to the owner's account by Bank transfer, then based on that standalone piece of evidence, you can serve a legal notice and file a civil suit for recovery of said money from the owner. Otherwise chance of getting back the said money from the owner appears to be not feasible based on the facts and circumstances of the matter. Reach out to an Advocate for further guidance and steps.
Parking allotment after agreement of flat
Is is legal to allot car parking allotment letter to buyer after agreement and also no need to supplementary agreement?
7 months ago
A. Dear Client,
Your query requires to be more specific and in detail to respond properly. A separate agreement is not made/required for the allotment of car parking. It is specified in the Schedule of Property in the Agreement to Sell executed jointly at the time of booking of the flat. If the same is not mentioned in the schedule of the said agreement by default then a supplementary /revised Agreement to Sell is required before the allotment of parking which is a part of scheduled property. If t ...ReadMore
Can there be multiple SPVs owning a single Real Estate property
We're thinking of a Startup based upon Fractional Ownership on Real Estate Properties, I had the query whether there can be multiple SPVs owning a single property so, we can cross the upper limit of 2
7 months ago
A. Dear Client,
Legal and Regulatory Framework: In India, the Companies Act, 2013 and other relevant regulations govern the formation and operation of companies and SPVs. While there is a limit on the number of shareholders for private companies (200 shareholders), you're right that using multiple SPVs could potentially bypass this limit.
Tax Implications: Different ownership structures can have varying tax implications for both the company and the individual investors. Tax laws can change over ti ...ReadMore
Possession without OC and CC
I have purchased flat which comes under BDA and RERA completion date is end of September 23. Builder has not received CC and OC till now but they are asking to pay 100% money and start interior work.
7 months ago
A. Dear Client,
In the absence of a Completion Certificate(CC) and Occupancy Certificate(OC) issued by the Civic Authority who approved the building plan on the application of the Builder/Developer, they are incompetent to execute an Agreement to Sale or Deed of conveyance and such a practice is defined as “unfair contract” u/s.2(46) of CPA, 2019. . Moreover, both CC and OC is also defined u/s.2(q) and 2(zf) of the Real Estate(R & D) Act, 2016 casting the obligation of the Builder/Developer to ...ReadMore
Shops were to be cut out for sal
A building was passed wherein shops were to be cut out for sale, with a map approved by the municipality board. The approved map and building constructed is not same. There is an extra set of stairca
7 months ago
A. Dear Client,
If the staircase is not shown in the map of the approved building plan then it will be treated as unauthorized construction and once the deviation is brought to the notice of the Building Plan approving authority, the Municipal Corporation then after inspection of the constructed building, the Municipal Authority may issue an order/instruction to the Owner/Seller to demolish the unauthorized construction charging the penalty for deviation in construction of building.
REQUIRED PROPERTY VERIFICATION DOCUMENTS
We are planning to buy a Duplex inside a project made by the an Independent Developer in Bhubneswar. What are the mandatory documents should we ask from the developer/builder for verifying the Propert
7 months ago
A. Dear Client.
Purchasing a property/land requires utmost care. One has to examine and find out the title of the seller or the nature of his right. A seller can sell only what he possesses. Therefore if a seller has a proper and valid title, on a purchase you will get the valid title. If the seller's title is defective, you will get only the defective title. When buying a property, legal due diligence is essential to avoid getting entangled in legal issues later. Here are some of the precautions y ...ReadMore
I booked the flat by paying 10 percent to builder
Hi, I booked the flat by paying 10% to builder but they shared allotment later with wrong value which was not agreed. After raising concern, they promised to rectify the value and also promised to th
7 months ago
A. Dar Client,
If the housing project is registered under RERA, then before payment and receipt of booking money against the flat, an Agreement to Sell is required to be executed between the Purchaser and the Developer u/s.13 of RERA Act, 2016. The allottee shall have the right to cancel/withdraw his allotment in the project as provided in the Act, provided that where the allottee proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forf ...ReadMore
