Agreement of sale

Welcome@123 (Querist) 04 January 2023 This query is : Resolved
Hi Sir/Madam, our cousin had entered into a registered agreement for developing his 1000 sq.yrds plot in hyderabad in year 2018.The developer had not responded and done nothing since then and neither he is cancelling the agreement then our cousin approached us and decided to sell the plot to us for out right, so we made sale agreement in 2022 june to buy the plot. Will this be a valid one and can I go with registering the plot.

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A buyer entered into a sale agreement in 2022 to purchase a plot in Hyderabad. The plot's original owner had a registered development agreement from 2018 with a builder who has since done nothing. The buyer is concerned about the validity of their 2022 sale agreement and whether they can proceed with registration. The advice given is that the validity hinges on the terms of the original development agreement, specifically if the builder failed to meet any time limits. If the original agreement period has lapsed, a cancellation deed between the cousin and the builder would be necessary before proceeding with the new sale registration.

kavksatyanarayana (Expert) 04 January 2023
Your cousin entered a registered agreement with the builder but what are the terms and conditions of the agreement? Is there any time limit to complete the building and give the amount? Only after the lapse of the agreement period then your cousin and the builder shall execute the cancellation of the agreement deed and then you can go for registration.

P. Venu (Expert) 19 January 2023
Yes, any suggestion depends upon the terms and conditions of the agreement.

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