Dear colleagues in the Lawyers Club,
You may be aware that there are N.A Plots being sold in Maharashtra. Typically, these are advertised and marketed by Marketing companies such as Disha Direct, Soft Corner, etc. These N. A Plots are sold within a project which will have some common facilities and will also be gated under common security.
When it comes to actual documentation of sale, it appears that the marketing companies are no where in the picture. The documentation will be directly with the developer of the property. These marketing companies of course claim that they are part of the JV but the name of the developer does not indicate anything - in fact just a few private names are stated in the agreement.
Under these circumstances, what are the precautions that need to be taken (a) firstly, while buying N.A land in Maharashtra and (b) secondly, while dealing with this kind of structure between marketing company, deveopers, etc.
Given that N.A land is becoming very popular option for investment and second / weekend home, clarifications in this matter will be highly useful to all the member community and indeed the public.
Kind regards,
Ram Mallya
