Not to sell flat for 5 years from possession

ADV-JEEVAN PATIL, MUMBAI (Querist) 16 November 2016 This query is : Resolved
Can builder incorporate clause in agreement not to sale flat for 5 years on possession? Is it legally admissible.

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Guest (Expert) 16 November 2016
Once the Property is sold the Seller Can Not Create any Binding Or Dictate any thing to Buyer.Once the Transaction is Over The seller is Out Of Picture and Can Not have any Rights.It is Not Legally Admissible.

Guest (Expert) 16 November 2016
Better to be Careful with Such Builders.

Guest (Expert) 16 November 2016
Even the Registrar Could be Held Responsible For Accepting Such Clause in the Sale Deed Or Other documents

Sankaranarayanan (Expert) 16 November 2016
yes i do agree with mr Rajkumar.

Guest (Expert) 16 November 2016
Special Project that is SRA which is governed by Maharashtra Slum Area Act there such clause can be inserted because such section is there that authority can put the condition on restriction of transfer of flats for the specific period since they are given free of cost etc.

Here the project is executed by Builder /Contractor with specific financial capacity plus he gets the free component to sell etc.

Now the whole project is different and not standard private project.

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Now regarding Standard project, it is not possible , but again if the land is given by some authority then that is required to be studied , because in Maharashtra various state law while granting land on lease etc have their own section incorporated in that specific act.

Take for other eg. MAHADA is also giving certain lease land to private developers such land while giving for development they are using relevant section and are inserting conditions while giving the land that so many flat the will give to specific caste people etc.

Similarly, whether any Maharashtra law is affecting such way is required to be studied in such case.

Regarding caste base allotment on Mahada land by the private developer when they are allocated plot for development this condition I have seen and verified from rules and act. But regarding 5 years not sure but 10 years is for SRA under Slum area act

Individual study is required for that case.

Guest (Expert) 17 November 2016
Even in the Case of SRA the Builder Has No Authority To Dictate Such Terms.In Slum Clearance there would be Only Allotment and Not A Sale Deed.

Ms.Usha Kapoor (Expert) 17 November 2016
Agree WITH EXPERTS.

Kumar Doab (Expert) 17 November 2016
Local laws/rules may be the reason for such clause.

If builder has also cited the local laws/rules, along with clause then it may be gone thru.

Rajendra K Goyal (Expert) 17 November 2016
Local law / rules / clauses applicable.

If the state Government / project approving government agency has imposed such condition while approving the project, builder can impose such conditions in turn.

Generally projects in some states related to allotment for weaker section / St/ST/ ex-service personal etc. may contain such conditions as the allotment is on priority / subsidized.

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