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samratsarkar (sdf)     14 April 2012

Old house selling kolkata builder

 

My father owns a 30 year old house on land area 1800 Sq Feet : (2.5 Kattah (or Cottah)) in an upscale area of Kolkata- Ballygunge area. We are talking with our neighbour who also owns a house on land area 1800 Sqft. 
My father and his neighbour wants to give their house (1800 +1800 = 3600 sqft land) to a builder..
In this area Kolkata-Ballygunge new flats are going around in the price of  INR 6500/sqft
Do the builder will construct G+4 floors (8 flats each 1300 sqft)  in the 3600 sqft land ? ( We have seen other neighbors doing G+4 bldg on similar size land)

1. How much my father should ask ? ( Two flats each 1300 sqft super built up Plus 20 lakh cash Plus rental in a 1300 sqft flat in equivalent area during construction period).
2. Is this a fair deal or this is too high or this is low ? Sometimes Builders use terminolgy 60-40 ; 50-50 . What is that ?

3.Do the builder will amalgamate the two property through Municipal Corporation ? (Father house and neighbor house)

Is there any danger/hassle during amalagamation of two properties ?

Thanks in advance. Kindly advise.



Learning

 2 Replies

JT Rajasuriya, Chennai (Advocate 98410 53790)     14 April 2012

From your poposal, it appears there would be car parking provision too. In the circumstances, what the builder proposes is fair enough. At best you can try to negotiate a cash component of Rs.30-35 lakhs if the flats would be sold out easily at that rate and also if you are willing to take the money a little later i.e when builder gets money from prospective buyers.

samratsarkar (sdf)     17 April 2012

When we are selling our old house to a builder in return for flats and some cash what docs needed.

What kind of documents do we need to sign with the builder ?


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