haps (owner) 12 July 2013

Mhada flat - urgent

I plan to buy a MHADA flat which has not yet completed 5 years. Please suggest what documents should I request from the owner? I will be paying 75% of the amount now and 25% when the property title is transferred to my name i.e. after 5 years. The case is very genuine, the owner wants to buy a property near his current place of residence while I want to buy a flat urgently.

How can I be legally sure that the owner will transfer the property in my name after 5 years?

Please reply urgently as I need to make a fast decision.

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2 Replies

Advocate Ravinder (Advocate/Attorney) 14 July 2013

Five year period is very long, 3 months is ok. Likewise 75% advance is huge, 25% is ok. You have to enter into Registered Agreement cum GPA by paying 25% advance and the balance 75% should be paid after 3 months at the time of registration of sale deed and taking possession of the flat. You have to obtain the following documents (1) Registered Agreement cum GPA (2) Link document how the builder got the land (3) Complex/Building permission from Municipal (4)Layout copy (5) NOC from govt that shwoing all clearances (6) Occupancy certificate from Municipal.