Buying plot in palwal
perwinder
(Querist) 24 February 2014
This query is : Resolved
India Propzone private limited is selling plots in Palwal.
They gave me the copy of the registry of their total land he bought from the farmers (4 acres) amount of 1.17 cr. But they paid only 9 lacs on paper in cash and written on the register with a clause says if you are not able to pay the total amount by 23rd march then the land will be returned to the farmers and 9 lacs will not be returned to india propzone.
As of now, propzone is giving possession on 30% of the plot amount and the rest you can pay in easy installments. One more options they said is, pay the full amount now and get the registry but the first party farmers will transfer the registry, not company as we dont have the full rights.
They also said, they will revise rate after 23rd march and then you will not get the rates what you are getting now.
Please suggest should i buy the plot now or wait for 23rd march?
Thanks
ajay sethi
(Expert) 24 February 2014
dont purchase property without consulting a local lawyer . when you are spending so much money in buying plots pay some legal fees and satisfy your self that title is clear and marketable
Rajendra K Goyal
(Expert) 24 February 2014
Buying this property at present is full of risk. Seller is not the owner and land can be returned to original sellers. Change of land use whether allowed or not is not clear.
If the property goes back to the sellers how your money would be paid.
Better pay more, purchase risk-less property.
