Gpa
channa keshava
(Querist) 08 May 2012
This query is : Resolved
Dear Sir,
I am Keshava, we have bought a site measuring 30x40 in outskirts of Bangalore, comes under Nagarabhavi Sub Registrar office jurisdiction in 2004 and the sale deed has been registered in Dec 2004.
my query is;
'A' - is the original land owner, and sold the land (1 acre 14 gunta) with registered sale deed in Mar 2004 to
'B' - who is the layout owner, and 'B' has given GPA to 'C' (through notarized) to sell / register the sites. We have purchased the above site from GPA holder 'C'. The site is also registered in our name in village panchayat, and we are paying the necessary taxes to the site to Village panchayat from 2004.
Please advice on the below
1) Is there any problem from the above transaction.
2) shall we get bank loan to construct the house(once the area is converted into corporation, rightnow it is under village pancyayat limit).
Request your valuable advice on the above.
Thanks & with best regards,
Keshava
Anirudh
(Expert) 08 May 2012
If your plot has been registered in your name through Registered Sale Deed then you will have no problem whatsoever.
Yes, on the basis of such a registered document in your favour, you will be able to get bank loan.
ajay sethi
(Expert) 08 May 2012
aspointed out by anirudh if your agreement for sale is duly sta,mped and regsitered you have no problem . you have not mentioned whether your agreement with C is regd or not
channa keshava
(Querist) 08 May 2012
Thanks a lot Mr Anirudh and Mr Ajay Sethi.
Dear Sir (Mr Ajay Sethi), the site is purchased from 'C' and got registered from 'C' (gpa holder). I was wondering about last year's (Oct 2011) Supreme Court judgement that GPA holder is not having rights to sell / register the land. I have not read the full judgement, but read only some portion of the article printed in internet, hence wanted advice.
Thank you once again.
Regards,
Keshava
Shonee Kapoor
(Expert) 09 May 2012
The judgement does not have any retrospective effect.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Mahadeva Rao G
(Expert) 11 May 2012
NOTARISED GPA does not have any binding effect. HOwever when such transaction takes place like the Unregistered GPA holder is selling the sites, It is safe practice to get the OWNER / (EXECUTOR of the GPA) as consenting witness on the DEED OF ABSOLUTE SALE executed by the GPA holder.
