Agreement of sale-cum-gpa holder can give for developement
prasadreddy
(Querist) 05 September 2014
This query is : Resolved
I purchased a plot admeasuring 1000 Sq.yards under a registered Agreement of Sale cum General Power of Attorney. Shall I give it for Development, for the construction of a residential complex, to a builder/developer.
Kindly suggested me .
Anirudh
(Expert) 05 September 2014
In which year did you purchase it?
Is the person who granted you the GPA is alive now?
prasadreddy
(Querist) 05 September 2014
2014 year and the Vendor is alive.
Anirudh
(Expert) 05 September 2014
You cannot do anything with the property unless you have it Registered in your name in the office of Sub-Registrar, by paying Stamp duty. In case the person who granted you GPA dies, then you will have tough time in getting the property registered in your name. Without registration by paying stamp duty, you cannot get proper title to the property. In case you don't get it registered, then there is every chance that the children of the original owner may object and get back the property (without returning any money to you).
Further more, in case you want to sell the property further, you will not be able to sell it.
Rajendra K Goyal
(Expert) 06 September 2014
first get it registered in your name.
V R SHROFF
(Expert) 06 September 2014
ONLY IF REGISTERED..
Dr J C Vashista
(Expert) 06 September 2014
I fully agree with the experts.
Get the ownership rights (title) of the property transferred in your name by a registered Sale Deed, before proceeding further. Property said to have been purchased under GPA is invalid especially after the judgment delivered by Supreme Court in Surya Roshini Ltd. Vs. State of Haryana.
T. Kalaiselvan, Advocate
(Expert) 09 September 2014
It has been rightly advised to you to get the property registered on your name so that you can always be safe and confirmed about the same till the builder rebuids it or hands it over after completion and thereafter too.
