regarding development of apartment
jatinkumar
(Querist) 04 December 2014
This query is : Resolved
Hello sir, my relative is owning a house in market year the house is partitoned, one part is sold and now other part which is own by my realtive. Now the builder has come with thr offer . because the house is jointly constructed without purchasing my relative part he cannot construct building on the land. He is offering some cash and two flat in the building which he will construct after demolishing my relatuve house all exp of documet will be born by builder. Now my question is what are the right of my relative , what precution he should take so no fraud take place, and what document he should enter so that his rights are not violoted. My relative is concern about that if the house is demolishe and builder will not construct the building or the plan is not approved where he will go how he will leave he is worried. Pls suggest documents to be made and what precution he should take, and his right . hoping for favorable reply. Thanks.
Anirudh
(Expert) 04 December 2014
Dear Mr. Jatinkumar,
Pl. appreciate that the legal documents are not prepared by such interaction. You have to necessarily get in touch with a lawyer dealing in property laws in your area, discuss the things, discuss the proposal in detail, discuss your concerns, discuss the draft agreement that is being given to your relative, then take things forward. By interacting here, you may try to save some few thousands of rupees, but remember, if proper care is not taken right at the beginning, your relative will end up incurring huge expenses later in litigation etc. Further more, the structuring of the development agreement has to be so done as to take care of the immediate capital gain tax issues. The agreement is also not free from Service Tax and VAT issues. One has to take a overall view before finalising the agreement.
Keeping all these aspects in view, my sincere suggestion to you would be to get in touch with a lawyer in your area well versed in such matters.
ajay sethi
(Expert) 04 December 2014
agree with Mr Anirudh contact a local lawyer
jatinkumar
(Querist) 04 December 2014
Sir thnk for prompt reply and i will contact local lawyer, but sir the builder has given draft mou and sale agreement for purchase of land from my relative in wich only favouring purchaser point is written. I just want to know that is this two doucment mou and sale agreement enough . just for the knoweldge sake i am asking so when i approach lawyer i can know the legal document necessary for this purpose.sir please if possible let me know other document list which will be required for thus purpose. So i can talk with the lawyer if u suggest me correct legal document list, agreement necessary for this proposal . My relative sin in law is c.a so on account side he will take care but for legal side i just want knolwedge of document required. Pls suggest.thnks
Anirudh
(Expert) 05 December 2014
Mr. Jatinkumar,
I know the builder will give an agreement which is highly one sided and favourable to him.
That's is one of the reasons that you have to approach a lawyer to get incorporated those terms which will protect the interests of your relative.
TRYING TO SAVE SOME MONEY BY NOT APPROACHING A LAWYER IS GOING TO BE COSTLY.
Please remember, every thing one cannot do oneself - if one tries to do - he will end up paying more. (Example: When my chappal is to be repaired, I have to necessarily go to a Cobbler. Instead if I start doing it myself, as only one or two nails have to be hit - take it I will get the hammer on my thumb, and I will be running to a Doctor to get my thumb attended and in the process pay more! Also remember, the chappal still lying unrepaired!!)
Rajendra K Goyal
(Expert) 05 December 2014
Consult your lawyer and get the documents vetted before executing.
