Sell of Property

As it is a registered agreement to sell, no further agrement is required.

you can directly sell the property to the buyer. He will require an NOC from the builder and builder will require a declaration from the buyer that he will honour the balance outstanding commitment.

A tripartite agreement will also contain the same thing. Get it drafted from a good local lawyer.

Sir, I wonder how you got loan from the bank without getting registration of the flat. And now, for selling the flat to another person you need not go for triparty agreement. You can ask the person buying the flat to get the flat rgistered in his name and take over the your bank loan in his name. This way you can save the stamp duty also. Triparty agreement doesnt come in this picture of events as you are not selling the flat at its construction stage.

The agreement to sell between you and buyer will also be a registered document and in fact if the flat is being sold within one year of original registered agreement between you and the builder, a credit of stamp duty paid on original agreement will be available as per Bombay Stamp Act.

Dear Sir,

Thanks for your possitive and Promt reply. I will contact local lawyer for making the tripartite agreement . Is their any problem if Sell deed is not their as builder has not entered any selldeed with any flat owner but he is agreeable to put the clause in the tripartite agreementthat he will be completing the Sell deed within 1 month with the new buyer as his declaration work is still in progress.The building is 3 years old.All the flat / shop owners has occupied the flats.Electrical connections are on our name but property tax is coming on buildres name for each flat.

Regards

Deepak Kulkarni