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RAJESH PODDAR (CA)     23 July 2014

Split in share certificate

Dear Sir/Madam

I wish to purchase a commercial office directly from the builder. OC of the said premises has come last week.

Now the issue is that The total area is 650 carpet. I cannot afford this much and my requirement is only 300 carpet so the Builder says he will split the area in two units make separate entrance and will issue me only 300 carpet area by making a wall in between. The said unit is located on 9th floor. He says since oc has come he can do anything now. The said property is located in mumbai.

Now my query is:

IS this Legally permissible that area can be split after OC  ?

Share certificate will be issued say 901A and to the other prospective purchaser as 901 by the society as and when it is formed as told to me. Is this Legal ?

Any other issues that i must consider ?

Is it safe to buy this property ?

Your Expert views will be of great help to me.

CA RAJESH PODDAR

 

 

 



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 2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     23 July 2014

Municipal authorities must be authorise this division. 

T. Kalaiselvan, Advocate (Advocate)     26 July 2014

This isa clear cut deviation and irregular.  Without the approval of competent authority i.e., Municipal corporation, it will always be sword hanging over  the head.  Consult a local lawyer and take his further advise and proceed.


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