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Saturn (Student)     26 April 2013

Purchase of flat from unregistered society

Hi All,

I am looking for a purchase of flat in a building which is 1 year old without OC. These is a 2nd hold agreement between me and seller. The society is not yet registered as still around 10 flats are  to be sold after possession. The builder has a good reputation in locality

I have following questions

1] Should I go purchase of such property?

2] Is there any risk involved in purchase of such property?

3] Which are the documents to be checked before the purchase of such property?

4] Who issues Share Cerificate? In my case there won't be any share certificate( i guess), so in that case what is the document to be used so as to replace against the share certificate?



Learning

 2 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     26 April 2013

OC is very much needed now. unregistered society agreements are not valid in the eyes of law.Before purchasing flats see the building plan, permissions from municipality, OC, etc. 

Saturn (Student)     27 April 2013

Dear Sir,

Thanks for the reply.

Is it possible to get OC even if the building is just 1 year old and still some flats are yet to be sold?


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