quesprocess of resale of flat in ghaziabad

I want to sell my under construction flat in Ghaziabad and have already found a new buyer. I have made about 80% payment to the builder till now and have not taken any loan from any bank. Now Builder is asking me for transfer fees and following procedure of transfer in order to make the deal legal:- 1) I have to write application to builder for transfer request. 2) Transfer fees to be deposited by me to him first. 2) Builder will cancel my membership and will issue new allotment to the buyer on the old agreed amount. 3) If new buyer is to seek loan, bank will send money to the builder. 4) After receipt of money from new buyer's bank, he will refund me the amount deposited by me to him. 5) Surplus amount/Black money to be mutually settled between me and new buyer. Is it the right process applicable in Ghaziabad for transfer of under construction flat or something else can be done?

  • ansLegally speaking you have not yet become the owner of the flat under construction since the registration of the flat has not been done yet in your name by the builder. Since you have already paid 80% of the value of the flat and still can not be called as the owner of the flat because the deal is not yet concluded. We advice that it is better to pay the remaining 20% to the builder and get the registration of the property done in your favour and later on for the mutually agreed price between you and the new buyer. This way you can clinch the deal by getting a good margin in price and you need not share the profit you get out of the deal with the builder. Yes the NOC may be necessary if the new buyer avails loan from bank other than builder's bank.

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Documentation Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
  • Related Articles

Consult best Documentation lawyers in India

Similar questions

I was a Muslim. I converted to a hindu at Arya Samaj. But now I…
Sir my date of birth is 22/7/2000. I have my birth certificate also but in…
hello, can anyone help me. i wanted to make fresh passport but document what i…

I have made a caste certificate but the name registered is only Rahul father and…

Documentation Lawyers in India

Advocate T Kalaiselvan

 Experience: 16 years

Advocate Anuj Aggarwal

  Model Town, Phase 3
 Experience: 13 years

Advocate Amit Sharma

 Experience: 11 years

Advocate Srishti Saxena

  Guru Apartments, Dwarka
 Experience: 6 years

View all >>

How it Works

Know how LawRato makes legal advice easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly