Hi All,
I am planning to buy a property in Bangalore (karnataka) and this is B katha plot (vacant site).
Layout developer (or land developer) has got same farming land and converted these into plots (sites) but not done DC conversion or plan approval so it does not have A katha but have only B katha (its not 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
A) Layout Developer -> B) GPA Holder (just notarised and GPA is not registered) -> C) Registered 3rd party
The above flow is 1st layout developer has made a GPA to the 2nd person (B) and this person B has not registered this GPA but only notary signature is there on 100 Rs stamp paper and the GPA clearly says that GPA holder can sell the land on behalf layout developer (A) and can receive full money. This was executed in Aug 2005.
After 8 months i.e. in May 2006 this B who is GPA holder will sell this property to person C and this C registers the property on their name in the same year 2006 (sale deed has sign of B and A is no where in picture).
Some of the forum talks about mandatory (compulsary) of GPA registration and some say that its not compulsary. Since it was in year 2006 does this matter?
1) Now my question is will I be safe in buying property from C 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 B i.e. GPA holder has not sold this property to any other person ?
3) Is there any possibality of person A making one more GPA to other party (B-1 or B-2) and we do not know that? and by then this B who was GPA holder has sold this and it got registered to C ?
Now present EC is in name of person C and also the have orginal GPA copy (un-regustred but notariesd)
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