Property law
Querist :
Anonymous
(Querist) 14 November 2011
This query is : Resolved
DDA has allotted a flat to me . The allotment letter has been issued t me . I have deposited the demand . The perpetual lease and possession is yet to be executed . I am need of urgent money .
Can I execute the transfer the property to purchaser by executing sale deed or by registering ATS , SGPA etc and other documents as prevalent in market .
Will such sale and purchase be legally valid .
Can I face any problem in future due to such sale .
Can the purchaser face any problem in future due to such purchase
Devajyoti Barman
(Expert) 14 November 2011
Though you are the allotee, the transfer is not yer complete.
If you sell the property it would not be invalid but the purchaser may insist to DDA a party which is unlikely.'So you bettr wait for execution of deed in your favour and then sell the same.
Querist :
Anonymous
(Querist) 14 November 2011
Barman Sir ,
it seems some text is missing. howvever , the execution of lease may take some time and i am in urgent need of money for my daughters marriage . the purchaser is ready to pay me on registration of sale deed . can dda create any problem in future .
ajay sethi
(Expert) 14 November 2011
what are the terms and conditions of allotment? does it mention that alloted DDA flat cannot be sold for some years?
wait for lease deed then sell .
Querist :
Anonymous
(Querist) 14 November 2011
the allotment letter is silent in this regard
ajay sethi
(Expert) 14 November 2011
under DDA scheme it is specifically mentioned that flat cnanot be sold without execution of conveyance deed
Allottee shall not be entitled to transfer or otherwise part with the possession of the whole or any part of the flat without execution of conveyance deed. Provided that in the event of sale/transfer being made without execution of conveyance deed, such sale/transfer shall not be recognized by the authority and it shall be open to the Authority to cancel the allotment and resume the flat.
ajay sethi
(Expert) 14 November 2011
you can however mortgage your flat and take a housing loan if you need money
MORTGAGE / AVAILING LOAN
The allottee can avail housing loan by mortgaging the house to following institutions without prior approval of the DDA. However, an intimation regarding institution to which at has been mortgaged must be sent to concerned Dy. Director (Housing), DDA.
i. Government of India; ii. State Governments: iii. Union Territory Administration: iv. Public Sector Undertakings/Autonomous bodies V. Nationalized Banks VI. Life Insurance Corporation of India; vii. General Insurance Corporation of India: viii. Housing Development Finance Corporation: ix. Cooperative banks: x. MCD; xi NDMC; xii. All Joint Sector companies, irrespective of the percentage of share holding; xiii. University of Delhi; xiv. All organizations, private or public, which receive the approval of Govt, of India, State Govt, for the purpose of general mortgage permission and are recognized by RBI as a Housing Finance Company, xv. All Financial Institutions extending loans to individuals for house building, if they are leading companies with good market standing and repute say with a capital base of 5 crores or so, xvi. All Financial Institutions/Banks which are controlled by RBI or the Govt, of India irrespective of the percentage of Govt, share holding, xvii. All public companies with a capital base of 5 crores provided hey have a scheme for granting HBA to their employees and the mortgage is required for grant of such advances e.g. HUDCO.
Sailesh Kumar Shah
(Expert) 14 November 2011
I also completely agree with views of Mr. Ajay Sethi.
