Limitation of validity of agreement
SADASHIVE PANCHDHAR
(Querist) 03 February 2014
This query is : Resolved
Dear Sir,
I have entered into an agreement for development of my property situated in Hyderabad in the year 2002 but till this date builder is not able to get municipal sanction plan . The agreement is signed on stamp paper of Rs100/- but not registered with govt authority and I have taken caution deposit of Rs 2.5 lakhs refundable without interest after completion.
I want to sell outright this property to third party . How loang this unregistered is legally valid and can I enter in to sale deed with third party without vacating the existing development agreement with Builder.
Also suggest any good lawyer in case of vacating the said agreement.
Thanks
Yours truly,
Sadashive Panchdhar
ajay sethi
(Expert) 03 February 2014
cancel development agreement with builder . issue him legal notice for cancellation as although 11 years have passed no progress has been made . the agreement executed by you must have contained clauses as to period within which construction would be completed. contact a local lawyer
Rajendra K Goyal
(Expert) 03 February 2014
Send notice for cancellation of the development agreement, contact a local lawyer.
