Purchase of flat
Roland Noronha
(Querist) 13 November 2015
This query is : Resolved
My son has bought a flat in Vasai West for
Rs.56,000,00/= ( Fifty Six Lakhs) directly from the Builder. Building is of two wings A and B. A wing 7 Storey completed and already occupied by the respective members. B Wing is under construction. 7 storey slab is completed 8th slab yet to be done. In the agreement possession date is mentioned on or before 31st December, 2016.
All money paid by cheque. No Black money involved. Stamp Duty, Registration has been done at Vasai Sub-Registrar and Original agreement is received. Receipts have been issued for every cheque payment made.
My query is that - No allotment letter is given. I only have the original agreement and the payment receipts. Is the Allotment letter is necessary ? Should I request for it?
Anirudh
(Expert) 14 November 2015
What you have so far done is Entered into a Registered Agreement to Buy/Sell and made the payment.
You are yet to get possession. The final Conveyance/Sale Deed is yet to be registered with the sub-Registrar's office.
When your flat is yet to be constructed, the question of possession does not arise.
Therefore, you have to wait till possession is handed over to you. Immediately on getting possession, you have to get the Conveyance/Sale Deed duly registered with the sub-Registrar's office. Ofcourse, the stamp duty already paid will be adjusted at that time.
Rajendra K Goyal
(Expert) 14 November 2015
Registered Agreement and payment receipts are good proofs of your claim.
Dr J C Vashista
(Expert) 15 November 2015
I agree with the experts advise. However, you should engage a local prudent lawyer for further guidance, advise and proceeding to protect your 56 lakh investment by spending "some" thousands rupees.
Hemant Agarwal
(Expert) 15 November 2015
1. Since the Agreement is Duly Stamp Duty paid and Duly Registered, the same is FINAL, for all purposes of law and nothing more needs to be done. Here there is NO requirement of ANY allotment letter and physical possession of Flat is not a criteria.
2. When a Flat is "purchased" from the Builder, THEN a Agreement is required to be executed, as proof of "Title Ownership" AND NOT A ALLOTMENT LETTER. Here there the Society does not exist and is subsequently registered.
3. IF the Flat is alloted by pre-existing Society, THEN there is NO AGREEMENT, "BUT ONLY A ALLOTMENT LETTER" which is issued by the Society, and this allotment letter is NOT required to be registered or stamp duty paid. Here there is no role of the Builder to execute ANY Agreement .OR. ANY Allotment letter.
Keep Smiling .... Hemant Agarwal
Read Articles: http://hemantagarwal21.blogspot.in/?view=sidebar
Anupam Lahiri
(Expert) 15 November 2015
Here only an agreement to sale was executed and registered. However, actual sale is yet to be done.
You need to execute another deed along with stamp duty when the actual sale would be made.
