(re-)selling my booking / booked property

Querist : Anonymous (Querist) 14 April 2010 This query is : Resolved
Hi,

I booked a property 13 months ago. Some percentage of the amount has been paid but not 100%. Property is not ready and possession has not been offerred by the builder yet.

Can I sell this property?

Thanks.

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Raj Kumar Makkad (Expert) 14 April 2010
You can get it transferred if the rules of the buyer society/company permit with its permission.

R.R. KRISHNAA (Expert) 14 April 2010
How can you sell the property when you have not obtained the title for the property. You get title only on
execution of sale deed in your favour.

You have no title to sell the property now and any sale made now is absolutely null and void.

Querist : Anonymous (Querist) 15 April 2010
Is transfer (cf. reply from Mr. Makkad) the only way in this case?

Is transfer executed by the builder in his own records only, or it has to be done by me in court or some other related authority?

Is the procedure/solution same if I want to give this property to someone in my family, for example my wife?

Thanks.

BHANU RASPUTRA (Expert) 15 April 2010
WHETHER agreement is registered? if agreeemnt is registered then with permission from BUILDER CAN sell or gift to family member with paymnet of stamp duty.

Querist : Anonymous (Querist) 15 April 2010
If the agreement is not registered then?

Could you explain what you mean by "registered agreement"? As I said, some percentage of the amount has been paid but not 100%. Property is not yet ready and possession has not been offerred by the builder yet.

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