Planning to buy a resale commercial property

754 votes

You agreed to buy a ready-to-move resale commercial shop in a builder's society. You paid a token amount. Initially, the seller showed only the registered sale deed (registry). Later, he sent documents such as the Height NOC, Fire NOC, Occupancy Certificate (OC), etc. The Builder-Buyer Agreement (BBA) and possession letter were missing. After about 18 days of follow-up, he sent the BBA, but it appears he had difficulty obtaining it from the builder's office.

Advocate Namrata Pandey LawRato

992 votes

the document missing was b b a possession letter rest of the document are supplied you you tried to retrieve from the builder so please see under the up rera act to see whether you can complete the process

Advocate Spiti Sarkar LawRato

661 votes

Yes, you can legally proceed with the purchase, but you must take specific precautions before finalizing the transaction. ​In resale property transactions where a Sale Deed (Registry) is already executed in favor of the current owner, the Registry acts as the primary title document establishing legal ownership. However, the Builder-Buyer Agreement (BBA) and Possession Letter form part of the chain of title. ​If the seller provides a forged, fake, or suspicious BBA, or if these documents are missing entirely, do not rely on verbal assurances. Ask the seller to obtain a certified copy directly from the builder or sub-registrar's office, along with an official NOC from the builder verifying the title and dues. ​Additionally, verify whether the missing documents were mortgaged with a bank for a loan. You should conduct a proper title search at the Sub-Registrar’s office and issue a public notice in local newspapers inviting objections. Ensure the existing tenant agreement is formally transferred/attested, and retain a hold on the final payment until all documents are verified by a property lawye

Advocate Hariom Dubey LawRato