I as a joint owner with my brother and sister inherited property thru settlement deed. Post getting the settlement, we propose to enter into agreement with builder to raise apartments for our use and give flat to builder towards construction.
The land being ours and the builder is the contractor for building the flats, can enter into mutual agreement to complete the project.
In this context, the builder can sell the flat to his prospective client for which we as owners will register the UDS of land and the builder will register the construction agreement.
From the Owners point, we shall still hold the unregistered UDS of the land, so there might not be a need to register the UDS of land. While the construction of flats can be regularised by the contractor by raising an invoice for the flats constructed for owners name jointly indicating the GST component for paying the tax.
As joint owners we each individual can execute settlement in favor of other parties to ensure each individual will said flat and associted UDS.
My query is it valid as against registering the JV and construction agreement. Pl clarify.
thanks in advance
