1. • CommentAuthorumesh124
   • CommentTimeDec 25th 2007

    

   • Answers: 1
   • Joined: Dec 25th 2007

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   Dear Sir
   I have one query related to property,
   I have book one flat at particular residential project through builder,
   Also I have made registered agreement with builder by purchasing required gov. stamp duties and registered it in gov. registration office.
   The said property is in under construction. I have made payment to the Builder as per schedule according to construction stage. Presently the construction is about 85% over.
   Now the my problem is that, I want sell the said flat for that I want no objection certificate from builder. For that he is asking Rs.1,00,000/- as society transformation charges.
   But I have not taken possession and also society is not form Registered (as it after possession process)
   
   Now,
   1) shall I sell said flat without NOC
   2) Is the builder’s demand is valid
   Please give me the suitable solution. Suggest me the suitable law.
2. •  
     CommentAuthorvikram
   • CommentTimeJan 1st 2008

    

   • Answers: 104
   • Joined: Jun 20th 2007

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   Well agreements with builders are often unclear at this stage till possession is taken.
   
   Society formation charges are taken by the builder to hand over property to the owners in toto.
   it is legal for the builder to demand, the issue is would there be a receipt for this transaction is a big question.
   
   The builder would take advantage of the situation as he has let his property go to the buyer(first) at old rates and he is taking advantage of the differentialrates by selling without taking possession where the builder is at a loss so he would hold up clearance till he is compensated. The first buyer has no choice if he wants an NOC and there is no legal recourse because he wouldnt have payed the builder in full too...
   
   So our suggestion is take your seller into confidence if u can and explain there is no NOC from Builder and if the compensation is demanded the second buyer bears it at a later stage. or you pay Rs.1,00,000 now collect the NOC and effect the sale.

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