Planning to buy floor under GPA will there be any problem in future?

I am planning to buy a builder floor in delhi. It is under GPA property. Is it a good idea to buy such a flat. Will there be any problem to sell it in the future?

Answers (3)

117 votes

It's o.k. but legally you get certain rights only means you don't become the owner of that property. Means in future if you want to sell it then you can do so through GPA only. But if other flat are sold through GPA in that society of builder then you can do so as many property in Delhi are purchased through GPA but again remind you that legally not purchasing that property & never you become absolute owner

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281 votes

It is always advisable not to transact by way of GPA. Even as per law, a GPA does not constitute a valid Sale Transaction. For a proper assessment of your case, you should consult us with all documents before taking the final decision.

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The courts have repeatedly held that the transaction of sale could be effected only through registered documents transferring the title in the property through sale deed duly registered.
The supreme Court in the case of Suraj Lamps and Industries decided by the Supreme Court on 11.10.2011( SPECIAL LEAVE PETITION (C) NO.13917 OF 2009) has laid down very clearly that in accordance with section 54 of the Transfer Of Property Act, sale of immovable property ( flat in your case) can be done only trough registered sale deed and transactions through Power of Attorneys etc are not legal.

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