Sale agreement on Carpet Area & Advance taken on saleble area,
Querist :
Anonymous
(Querist) 01 April 2011
This query is : Resolved
Dear Sir,
I have been booked one flat of 1015 sq.fit area at Rate.Rs.3740/- sq.fit.The said property is at KALYAN & Building is under constrution. Said builder has issued an allotment letter to all customers mentioning salable area 1015 sq.fit with rate Rs.3740/
Rs.4 Lcas have been paid as an advance payment.
Now builder is insisting us to go for SALE AGREEMENT mentioning actual CARPET AREA 633.44 sq.fit and total value of the property.
I read draft of the sales agreement. The builder has not mentioned anything about built up/sup.built up or salable area anywhere in the sale agreement.
Since I wanted to avail 80% finance for the property, the bankers are calculating finance as per market rate / reconer rate and actual sq.fit mentioned in the agreement.
At the same time builder is asking us to return that allotment letter to him before signing agreement/registering agreement with the concern authority.
1) Should I go ahead with existing situation?
2) Should I return that allotment letter to the builder before agreement?
I seek your proper guidance in this regard,
Nana Karmarkar.
R.Ramachandran
(Expert) 01 April 2011
The particulars that you provide here, or possibly that you can provide here are very limited and sketchy. On that basis, it will be very difficult to give any useful views.
Therefore, you will be better advised to visit an experienced local lawyer, to show the relevant documents to him and to get his advice before doing anything. In fact, it would be better if you can join other buyers of the flat in the same building.
