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Flat booked in pune - selling of flat without registering.

(Querist) 14 February 2016 This query is : Resolved 
I am NA NRI
Booked an Under construction flat in Pune.
Paid 20% by Cheque and relevant S. Tax.
I Will be paying further Dues as & When due by my own contribution.
I am not interested in registering the flat atleast for a year or untill pocession.

My Query is.

Can I continue payment of dues without registering property? what are all the risk involved.?
1) Can I sell the propertly after one year to third party at market rate?
2) Will builder buy the property at market Rate?
3) Builder informed us, he may buy at market rate and additional 3% on agreement value will be deducted from sale proceeds.
4)In addition he will deduct 50,000/- as cancellation fee?
5) IS the claim by Buider genuine or legally justified.
6) What if I sell directly to third party?


Please clarify with valuable reply.
Thanks

Prakash


Devajyoti Barman (Expert) 14 February 2016
1. One can not make payment upto 90% of total price before registration of flat. Execution of sale agreement is enough.
2.You can sell the property at ant point of time.
3. Builder can only say whether he will buy back the flat or not.
4.Better search of outside buyer than builder.
Rajendra K Goyal (Expert) 15 February 2016
1. You can.
2. Depends on agreement if any and the builder.
3. Show the agreement if any, to local lawyer.
4. Depend on agreement if any.
5. You can show all the documents to local lawyer.
6. It would be better, if you get better deal.
Prakash (Querist) 15 February 2016
Sincere thanks for inputs


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