Hi,
We are two builders from Chennai want to buy a property together in our names on joint onwership and then construct apartments in it and sell them all. We are doing it basically to leverage more money to buy bigger property. I would like to have guidance as how this can be set up without affecting any party. Following are my basic questions.
1. Since the property will be in both of our names, should both of us sign in each and every document that requires for construction including Building Plan approval etc.?
2. Should both of us sign in selling of each and every flat that are being sold as "under construction"? Or is it possible that one of us can sign and sell all flats?
3. We are going into 50% share agreement each so is that possible that each flat is sold alternatively by each builder? I mean, My partner sells 1st flat and get the amount credited to his account in stages by home loan provider and I sell 2nd flat and get the amount to my account and so on.
Please feel free to add any more points that you think will be useful to me.
Thanks in advance.
Thalapathi.
