Results for #buy
Legal
#nri#flat#certificate#letter#possession
I am an NRI and I own a flat in surat-gujarat. This flat was bought in 2003. I got a share certificate and an allotment letter. I also have the possession letter for this. We also got a loan from ICICI bank. During this we did not execute the sale deed. Now I wish to sell this property and the buyer is asking for a sale deed. What can I do in this situation?
I am an NRI and I own a flat in surat-gujarat. This flat was bought in 2003. I got a share certificate and an allotment letter. I also have the possession letter for this. We also got a loan from ICICI bank. During this we did not execute the sale deed. Now I wish to sell this property and the buyer is asking for a sale deed. What can I do in this situation?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague. As the same does not record from whom the flat has been acquired.
Legal
#buying#flat#under-construction
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Ready flat would be expensive compared to a underconstruction flat.
Legal
#nri#purchase#process#buying#property
What is the process of buying a property if you are an NRI?
What is the process of buying a property if you are an NRI?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The process for buying of properties by an NRI is same as that for resident Indians. The procedure for foreign nationals is differnet and requires permission of the RBI.
Legal
#loan#bangalore#agreement#construction#sell
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You would have to give indemnities to the Buyer for the loss of the original documents and the Bank granting the loan to the Buyer would have to be satisfied with such indemnities and should also be satisfied that the loss of such documents does not affect your title to the house.
Legal
#nri#registration#nominee#documents#buying
Is it possible to nominate someone to sign the registration documents while buying a property if I am an NRI and not physically present in the Mumbai where the property is located ?
Is it possible to nominate someone to sign the registration documents while buying a property if I am an NRI and not physically present in the Mumbai where the property is located ?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The right to admit execution of a document before the registration authorities can be granted to someone by way of a Power of Attorney. An NRI can execute such Power of Attorney before the Indian embassy at the place where such NRI resides and forward such Power of Attorney to India for adjudication and payment of stamp duty and thereafter, such Power of Attorney can be used to admit execution ...
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Legal
#mumbai#flat#owner#loan#property
I am a 24 year old individual living in Mumbai. I want to buy a flat in Kharghar. The owner of this flat had taken a loan for this property and hasn't paid it off altogether. What will happen to that? Also the papers of the house would be with the bank, so how can I claim that? Are all the original documents required during the registration? And what all documents will I have to provide while buying the flat?
I am a 24 year old individual living in Mumbai. I want to buy a flat in Kharghar. The owner of this flat had taken a loan for this property and hasn't paid it off altogether. What will happen to that? Also the papers of the house would be with the bank, so how can I claim that? Are all the original documents required during the registration? And what all documents will I have to provide while buying the flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You will require an NOC ffrom the bank prior to buying such property. You can make payment of the balance dues of the bank from the agreed value of the flat to the Bank directly and thereupon you can also get the originals of the flat from the bank. The original documents of the Flat will not be required at the time of registration of your agreement/sale deed.
RERA
#delay#possesion#interest#possession#promoter
In case of delay in getting possession from the promoter, will the buyer be entitled to get interest on the amount paid by him, for such delayed period?
In case of delay in getting possession from the promoter, will the buyer be entitled to get interest on the amount paid by him, for such delayed period?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) Yes. In accordance with the model form of agreement, if the Promoter fails to abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend...
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RERA
#promoter#agent#complaints#complaint#buyer
Can a promoter or a real estate agent also file complaint against a buyer?
Can a promoter or a real estate agent also file complaint against a buyer?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) Yes. An aggrieved person having any interest in the registered real estate project can file complaint.
Purchase & Sales
#buying#flat#mumbai
According to the current market situation, what would be preferable: buying or renting a flat in Mumbai?
According to the current market situation, what would be preferable: buying or renting a flat in Mumbai?
Answered on November 08, 2017
This is a very subjective question. Does the buyer intend to stay in Mumbai and make it his home or is from outside the city for a couple of years. There is room in the city for the prices to escalate even further, especially because we are a developing economy. GDP of the country is still in the growth mode, maximum of the population is in under the age of 25. FSI in mumbai ranges from 0.5-4 d...
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Legal
#ancestral#property#flat#salary#transferred
My wife and I do not have any ancestral property, we just have one flat that was bought from our salary income. We are senior citizens now and want this flat to be transferred to our daughter's anem. We have also financially supported our two sons in buying their flats. Now do we need to execute an explicit concurrence with our sons or can we directly transfer this property to our daughter's name?
My wife and I do not have any ancestral property, we just have one flat that was bought from our salary income. We are senior citizens now and want this flat to be transferred to our daughter's anem. We have also financially supported our two sons in buying their flats. Now do we need to execute an explicit concurrence with our sons or can we directly transfer this property to our daughter's name?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You could gift the Flat to your daughter, if your two sons agree and can join them as confirming parties in such gift deed. However, if they object for such gifting of the flat in view of their having paid monies to you for acquiring the flat, then it will depend on whether such monies were given as loan or whether the same were paid to the seller at the time of acquiring such flat.
