Rahul Sengupta (Professional) 28 February 2016

Sharing of flats with builder after registered JDA

Hello Respected professionals.We have entered into a JDA(Joint Development Agreement) with on of the reputed builders in Kolkata for our home.Now the JDA and POA documents are registered in sub-registers office.My father is the sole owner of the land.As the building plan is not yet sanctioned so the exact flat numbers that will be allotted to us(landowner) and builders that is not mentioned in registered JDA..it says only the fraction by which the constructed area will be divided between landowner and developer.The developer says once the building plan is sanctioned we will be executing a sharing agreement which will be Notarized but not registered.Once the construction is completed the builder will issue Possession Certificate in the name of landowner for every individual flat that he gets as a part of his share.Now my questions are:

1. Does the flats that my father(sole landowner) gets are to be registered again in his name in front of sub-register or by default the flats for which the developer is issuing Possession Certificate in the name of landowner will be in his(father/sole landowner) name only?

2.We want to sell some flats alloted to my father only after the construction is completed and we receive the Possession Certificate in the name of father from builder.While selling the flatsfrom landowner's share will the Registered JDA(mentioning only the sharing ratio in between the landowner and developer) and Possession Certificate(mentioning the exact Flat Number) in the name of landowner be enough to prove the ownership of a flat by the landowner?

3.My father wants to Gift some flats to me and my sister after the construction is complete and he gets the Possession .If there is no registered document mentioning the exact Flat Numbers owned by my father(sole landowner) will it be a problem to execute a Gift Deed in favour of us(me and my sister)?

I just want to know that when builder gives the possession to any landowner after the construction is complete as mentioned in JDA how landowner becomes the owner with his share of flats as the sharing agreement/supplimentary agreement is not registered.Is Sharing allocation ratio mentioned in registered JDA and the Possession Certificate from builder enough?

Looking for a reply to my questions.

Regards

Rahul

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3 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 29 February 2016

1. A duly Stamp duty paid and Registered "development agreement" and a "POA" between the Land Owner and the Builder, is more than sufficient for selling off /gifting the constructed Flats, received thru a "possession letter".

2. Registered agreement is required, when the property is sold or transferred to a third party and not between Land Owner and the Builder.

3. While selling the Land-Owners ratio of the Flats, the DA & POA alongwith the "possession letter", should be annexed with the Sale-Deed, which is sufficient enough to transfer "title-ownership", to the new owner, for all purposes.

4. The "possession letter", by itself is not sufficient for subsequent Sale-Deed, BUT the relevant clauses in the DA & POA, is sufficient enough for all purposes.

Keep Smiling .... Hemant Agarwal
https://www.maharashtra-society-help-forum.com

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Rahul Sengupta (Professional) 29 February 2016

Thank you Hemant Sir...it clarifies my doubt.

Srinath 07 February 2020

Sir - I read thru your opinion on how land owner can sell his share of flats after JDA Sir - My query is as below 1. I have a registered JDA with developer and JDA states which floors belong to.me as we have 1 flat per.floor and undivided share of land on total land area..No flat numbers defined..Do i still need a supplementary deed for allocation after construction? 2. Builder is seling his share of flats and buyer's bank is asking for oriiginal JDA and GPA for mortage Since buyer is purchasing all builder share, builder will no longer sell any flat, can i give original JDA and GPA to buyers bank? 3. In case i need to sell one or more of my flat share, do i need to produce original JDA and GPA to my buyer or a certified copy from sub registrar.office is sufficient? 4. Builder will register my share with registrar and handover possession certificate and original khatha to me. Are these docs sufficient evidence for my ownership? 5. I have possession of original title deeds for the land I would be very grateful if i can get an reply with opinion on the above queries. I am badly in need of urgent clarifications. Regards Srinath