Dda plot 81 scheme
Prem Dhawan
(Querist) 11 January 2015
This query is : Resolved
I am talking to brokers to buy (on re-sale) a plot allotted by DDA (to original allotee) under this scheme.
Those who know about this scheme may know that DDA has issued only a payment demand at this stage.
Possession/registry etc. isn't possible immediately and will be done later.
Brokers told me to agree on a price, including premium, with the broker/seller and pay the full money to the seller (by cheque or bank to bank transfer). And get the registry done at a later date.
* Is this deal safe from buyer's point of view?
* Can the seller not demand more money later? How can the agreement on price be documented and guaranteed?
* What sort of documents can be signed with the seller (immediately at the time of payment) as agreement on price and sale?
* Will the documents like Power of attorney, agreement to sell/sale, authorization to sell/sale, ... work in this case?
Thanks in advance.
Guest
(Expert) 11 January 2015
I suppose the demand letter must be containing the conditions of (1) lump sum or installments with (2) date/dates of payment, (3) whether payment asked by demand draft or transfer to their account by NEFT code, (40 if NEFT the code of bank, and (4) the tentative date of possession.
If so, please provide information on these issues? If not, what are the real terms of payment and what conditions?
Prem Dhawan
(Querist) 11 January 2015
I will have to pay the full amount including DDA premium plus market premium to the seller already now. This payment will be by cheque or bank transfer.
Seller can make the payment to DDA in installments or as lump sum by RTGF/NEFT.
The possession from DDA won't be immediate.
Therefore the questions as in my previous post.
* Is this deal safe from buyer's point of view?
* Can the seller not demand more money later? How can the agreement on price be documented and guaranteed?
* What sort of documents can be signed with the seller (immediately at the time of payment) as agreement on price and sale?
* Will the documents like Power of attorney, agreement to sell/sale, authorization to sell/sale, ... work in this case?
* Any other suggestion?
Thanks in advance.
Guest
(Expert) 11 January 2015
Mr. P,
Any casual reply to your general query is not likely to help you appropriately. So, examination of the plot related papers with the seller and also some more information would be quite necessary to form some definite opinion, which can be possible only on personal discussion, if you can afford. You may, if liked, can send complete detail at our email ID: dcgroup1962@gmail.com
Rajendra K Goyal
(Expert) 12 January 2015
As the possession of the plots has not been handed over, the deal is full of risks.
However, you should consult local lawyer in the matter.
R.K Nanda
(Expert) 12 January 2015
contact local lawyer.
T. Kalaiselvan, Advocate
(Expert) 15 January 2015
This is high risk subject. You cannot enter into any agreement with the allottee in this regard because until the allottee is not given possession and registration is not made on his name, even he is not the owner of the property hence any agreement made by him with you will be rendered invalid, thereby the things will become more complicated at a later stage. Better consult a experience lawyer and go ahead on his advise.
