Land registration & payment terms
Devrath Roy
(Querist) 11 December 2016
This query is : Resolved
Hi,
I want to purchase a freehold residential land in Ghaziabad,U.P for Rs.12,00,000 from an Individual seller on resale. This land is not approved by any developent authority. I have only Rs. 5,00,000 to pay now, and for payment of remaining Rs. 7,00,000, I and seller have decided to pay through monthly EMI of Rs. 10,000 for 840 months. Hence total amount i will pay Rs. 13,40,000 for that land which is inclusive of both principal and Interest.
I want the land to be registered on my name.
To execute a separate legal contract between me (Buyer) and Seller so that seller should entitle the recovery rights from me and I am obliged to pay the remaining balance amount payable on EMI of Rs. 10,000 for 840 months (Total 8,40,000) in cosideration of land of Rs. 12,00,000.
Please suggest me the best legal process to be followed which would entitle me (Buyer) the ownership right of the property and entitle the other party (the seller) the recovery rights of balance amount payable on EMI of Rs. 10,000 for 840 months (Total 8,40,000).
And please suggest me the process of land registration and sale deed execution while purchasing property in ghaziabad. How this sale will executed.?
Please address my both queries above.
Regards,
dev
Kumar Doab
(Expert) 11 December 2016
Why to repeat?
R.K Nanda
(Expert) 11 December 2016
repeated query.
Rajendra K Goyal
(Expert) 11 December 2016
Repeated query:
http://www.lawyersclubindia.com/experts/Property-registration-and-payment-terms-625461.asp
Sri Vijayan.A
(Expert) 11 December 2016
Repeated.
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