Purchase of flat from redevelopment building

Querist : Anonymous (Querist) 01 December 2011 This query is : Resolved
Dear Sirs,

I wish to purchase flat from redevelopment building from old tenants. The said building is under development to complete it will take another two years. In this situation what legal papers have to make because original agreement is between builder & old tenant. pl advice. The old tenant is ready to co-operate in all matter upto completion of building.

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ajay sethi (Expert) 01 December 2011
redeveopment is dicey process . in many cases builders fail to adhere to time schedule and invaribaly there is delay in completion of project .

obtain copy of agreement signed by tenants with developer.scrutinise clauses carefully as to completion , penalty for delay in completion , building plans , furnishing of bank guarantee by developer etc .
engage a lawyer .

Rajeev Kumar (Expert) 01 December 2011
Agree with sethi

V R SHROFF (Expert) 02 December 2011
My dear Rajeev This was also a Anonymous query

Expert : Rajeev Kumar
Posted On
01 December 2011
I cann't reply to anonymous query[ but even this reply that you can't reply is also a REPLY, Legally speaking]

My dear Ano,
Yo must approach the builder, enter into new Agreement with his consent.

Sailesh Kumar Shah (Expert) 02 December 2011
go ahead as advised.

Devajyoti Barman (Expert) 03 December 2011
yes rightly advised.

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