Release deed

where is the question on release his rights? being owner of the property  he can give his land for development or sale.

Respected Sir,

Thank you for answering the question, but my query is different which is specified in detail as below:

Land Owner has already given development right of his land . The has constructed the building. As per development Agreement Land Owner is entitle for one flat as consideration against granting the development right to developer. The flats are ready , now the Land Owner he doesn't want flat wish to release his right in the said flat in favour of developer for valuable consideration. Can the builder purchase the said flat by Release Deed?

Agreed sir. as per the agreement of construction the building constructed then the share of the owner 's part will be handed over to  him or if the owner decide to give his share to the builder even then he has to give his share only by the sale deed not by release 

The landlord has given for development only to the builder but not for sale.  And as per the agreement of Development, the builder handover the flat to the landlord.  Hence the question of release does not arise. The landlord can sell his flat to anyone including the builder by way of registration of the sale deed.

I agree with the expert advise of Mr. Kavksatyanarayana, the transaction will not be for release but a sale / gift to the developer qua share of landlord.

Accordingly as may agree between the parties i.e., landlord and developer, either a sale deed or a gift deed will have to be got registered in the name of developer but not a release/ relinquishment deed.

While the said Apartment is being sold, the Owner and Developer both can join to sign the sale deed (to be registered) to an interested buyer, giving the copy of the Development Agreement and other documents as link documents.  Otherwise, there shall two Sale transactions ie. one Owner selling his flat to the builder and again Builder selling the apartment to a prospective buyer.

There is no question of transferring the property by the land owner to the builder by xecuting a registered release deed because the transfer of immovable property by a release deed  can be executed between the cosharers.

The person in whose favour the release is made usually has a pre-existing interest in the property.

Transfer of rights in a property through a relinquishment deed is possible, only in cases of inherited properties. These would include all your ancestral properties, upon which you have a right by birth under the Hindu law and the self-acquired property of your father, in case he dies intestate.

Thank you Vasistha Sir for agreeing with me. 

Yes, the landlord, necessarily, has ti execute a sale deed.