AJ (MD) 10 March 2013

Sale deed validity

Dear Members: It would be great if you can clarify my Question, below are some details followed by my Question

1. the land I intend to buy is a KIADB plot

2. I am buying half of the land

3. The first owner (pvt limited company) had possesion certificate (1983), sale agreement (1984).

4. Due to financial issues the first owning company sold the land to second company, the second company was a BSE listed Limited company, last 2 years it is unlisted limited company

4.1 the Sale Deed-2 is thru Duely Constitued GPA

4.2 please note the date, the sale deed from first to second company was in 1995

4.3 please note KIADB had only given Sale agreement not Sale DEED so the first company sold it before sale deed

4.4. there were loans from KSFC, that is why KIADB did not give sale Deed

5. The First Company took money in 1995 from second company and cleared KSFC loans

5.1 got all Release Deeds (4 release deeds) from KSFC in 1996

5.2 got NOC from KSFC

6. later in 1999 , KIADB registered the Sale DEED-1 to first company

7. later all Release DEED were also registered

8. in EC also all transactions are present...

My Question to Esteemed panel

1. As Sale DEED-2 date is before Sale DEED-1, is Sale DEED-1 which was executed in 1995 valid?

2. is the Second Company the absolute owner?

3. Can I buy Half portion from Second Company, I will become third company...

4. Should I be careful about something?

5. Who is the expert lawyer in such matters? Whom should I appoint as Law Firm for this transaction?

Thanks

Reply Follow

5 Replies

shanmugam (Admin Manager) 11 March 2013

Sir,

First you get EC to verify the whether first / second sale before goingto lawyer.

suhas (manager) 11 March 2013

dear menbers,

i have property in navi mumbai.

my flat is on 4th floor with 1 bedroom & Bathroom only. But not mentioned as separate unit in OC.

Flat entry is only at 4th floor. On 4th floor no other construction besides this.

builder sell this to me in 2007 as separate flat with proper registarion.

only I am paying property tax on this flat.

But flat is nots separately mentioned in ocupancy certificate. and no separate unit in OC.

Due to that our society registration was not possible

But now our other society members submitted only up to 3rd floor plan and registered society & done plot transfer.

now my name is no any where in society & plot transfer deed.

I m totaly by-passed & cheated by builder & society.

Society now saying that there is no any connection between my property, me and society. Society will be the owner of this property.

now my question is that "is this registration of socity, plot transfer procedure is legal? because building plan submitted is not lattest. Old plan only up 3rd floor is attached with this procedure , and hence i got bypassed.

please advice kindly

thanks

suhas (manager) 12 March 2013

somebody guide kindly please

suhas (manager) 30 March 2013

please guide me

Manikandan (Lead Administrator) 02 April 2013

Dear Sir/Madam,

Recently, I have purchased 1937 square feet land and registration value is around Rs. 1,08,000.00 approximately.

My concern is, they have documented only in Rs. 100 stamp paper and rest of the amount is taken as DD. I have also registered the land and realized later there is possibility of getting stamp paper for all the registering amount.

Please clarify whether there will be any issues in future as it was documented only in Rs. 100 stamp paper for Rs. 13,55,900.00 land property.

Advance Thanks,

Regards,

J. Manikandan.