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vinayak (offr)     24 November 2010

How To Buy House From GPA Holder

RESPECTED SIR, PLS ADVISE AS TO HOW TO BUY HOUSE FROM GPA HOLDER. IN THIS CASE, URBAN DEVELOPMENT AUTHORITY DEVELOPED LAY OUT AND GAVE PLOT TO "A" ON LEASE PURCHASE FOR 10 YRS IN 1993. THE ALOTTEE AFTER 10 YRS GOT THE SALE DEED BY PAYING ALL TAXES DUES ETC. AFTER THIS HE MADE REGD.SALE AGREEMENT WITH PERSON "B". BUT THIS AGREEMNT WAS NEVER CONVERTD TO SALE DEED. PERSON "B" IN THE MEAN TIME CONSTRUCTED HOUSE ON THIS PLOT. THE SANCTION PLAN WAS IN NAME OF "A". AFTER THIS PERSON "B" GOT IRREVOCABLE GPA FROM "A" TO SELL THE HOUSE. CAN I BUY THIS HOUSE FROM "B". ALSO BANKS ARE REFUSING TO GIVE LOANS IF PROPERTY IS ON GPA WHAT SHOULD I DO. PLS PLS PLS HELP. THANKING YOU IN ANTICIPATION. 



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 7 Replies

Nu.Delhi.Law.Fora. (Advocate-on-Record Supreme Court of India)     25 November 2010

Dear Querist,

 

Please see the contents fo GPA. Is this registered/notarised? Get the property transfered in the name of B and then, you may think of buying of such property based on subsequent development.

adv. rajeev ( rajoo ) (practicing advocate)     25 November 2010


You can purchase the property from the GPA before that go thru., the contents of the GPA

Viswanath (Student)     25 November 2010

the property can be purchased by the Sale Deed executed by the GPA Holder but the GPA should not have been cancelled for any reason whatsoever  or in other words it should be in force at the time of execution.

Pradeep MK (Manager)     25 November 2010

It is advisable to get the sale deed registered in the name of B for the land by paying proper/deficit stamp duty. In the absence of such sale deed the title of B to the land is imperfect.

In case you are registering the sale deed in your favour through "B" on the basis of POA then he will be selling the land in the name of "A" to you.

The question will remain about the sale of super structure. This also needs to be sold to you. All these documents needs to be registred and proper stamp duty needs to be paid.

With regard the POA pl ensure that

the POA contains power to sell the land,

the  "A" is alive. In case "A" is not alive then POA has no value.

POA is not revoked.

POA is registered with the sub registrar

Ram K (Manager)     26 November 2010

please take following

1. before execution get the indemnity from the original holder

2. get the NOC and confirm the paytment terms

3. pay the amount by DD or cheque

4. get the no due certificate after execution

andrewsmith (mr)     29 December 2010

If you are looking to acquire a home of your interest then you would surely like this https://notifymewhenlisted.com/ If it gets listed for sale then you will be informed about that. No problems at all.

Gulshan Tanwar (Advocate)     29 December 2010

                                Agreed.


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