Results for #buyer
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
#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.
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.
Legal
#government#payment#delayed#certificate#selling
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If, the flats are sold on ownerhsip basis, then the conveyance cannot be delayed at all and in fact under the provisions of the real estate and regulation act, the conveyance has to be effected immediately once more than 50% of the total units in the building has been sold and such purchasers have made the full payment of the consdieration amount.
RERA
#flat#buyer#duly#registered#maha
How does a flat buyer know if a real estate project is duly registered under Maha RERA?
How does a flat buyer know if a real estate project is duly registered under Maha RERA?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
Flat buyer can log on to MAHA RERA to check if the project is duly registered. Flat buyer can also demand from the Promoter the Project Registration No. under RERA and then verify from MAHA RERA website.
RERA
#revoked#buyer
If the registeration of a real estate project is revoked for any reason, how will the interest of the buyer, in such an event, be protected by RERA?
If the registeration of a real estate project is revoked for any reason, how will the interest of the buyer, in such an event, be protected by RERA?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
Upon lapse of the registration or on revocation of the registration under this Act, the
Authority, may consult the appropriate Government to take such action as it may deem fit
including the carrying out of the remaining development works by competent authority or by
the association of allottees or in any other manner, as may be determined by the Authority:
Provided that no direction, decis...
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Taxes & Duties
#rules#nri#sell#property#mumbai
I am a Captain in the Merchant Navy and as per Income tax rules I am an NRI. I wish to sell my property in Mumbai that is jointly owned by my wife and I, and invest the proceeds in another property. Is there any TDS to be deducted by the buyer in this situation?
I am a Captain in the Merchant Navy and as per Income tax rules I am an NRI. I wish to sell my property in Mumbai that is jointly owned by my wife and I, and invest the proceeds in another property. Is there any TDS to be deducted by the buyer in this situation?
Answered on November 08, 2017
The property is situtated in India and therefore capital gains tax will arise on this transaction. The buyer will have to deduct TDS as per provisions of section 195 of the Income Tax Act since you are NRI.
RERA
#promoter#payment#instalments#buyer#maha
What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
The rate of interest payable by the promoters to the allottees or by the allottees to the promoters, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent: Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from t...
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Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) The aggrieved person can file an application online as per format provided by MahaRERA website.
