Hi All,
I am planning to buy a property in Bangalore and this is B katha plot (vacant site).
Layout developer (or land developer) has got same farming land and converted this into plots (sites) but not done DC conversion or plan approval so it does not have A kathe but have only B katha (not a katha and its B register). This is the background of the layout which is formed
The transaction of the individual plot I am planning to buy is as below
1) Layout Developer -> 2) GPA Holder -> 3) Registered 3rd party
The above flow is 1st layout developer has made a GPA to the 2nd person and this second person has not registered this GPA but only notary signature is there on 500 Rs stamp paper and the GPA clearly says that GPA holder can sell the land on behalf layout developer (1st party) and can receive full money. This was executed in Aug 2004.
After 8 months i.e. in May 2005 or so this 2nd party who is GPA holder will sell this property to 3rd party and this 3rd party registers the property on their name in the same year 2005.
1) Now my question is will I be safe in buying property from 3rd party who is current owner and also have registered the property? Is there any legal things i need to check?
2) How to find out that if 2nd party i.e. GPA holder has not sold this property to any other person ?
3) Also there may be possibality of 1st party making one more GPA to other party (2B) and we do not know that? and by then this 2A party who was GPA holder has sold this and it got registered ?
Please guide me in this regard and let me know if we can go fwd or should we avoid this? If we can buy this based on the EC transactions then what are the things we should keep in mind?
Thanks in advance
