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Property without sharing agreement between land owner and builder
05-Aug-2023 (In Property Law)
I am exploring a property which was initially approved for 9 floors and a registered shared agreement between 4 land owner and builder is in place. Later builder got approval from BDA to construct two extra floors. There is no supplementary sharing agreement for extra two floors.I m exploring one of such unit which is available in resale through assignment deed, registration is immediate as it ready to move in, Builder is also providing an indemnity bond mentioning this belongs to builder share and any future dispute raised by land owner will be handled by builder.Please suggest if I should buy
Dear Sir/Madam, before going to once again review entire documents of such properties, I would like to suggest as per your query there is no problem to buy the said apartment because of initially there is no any agreement in this regard between the builder and land owners, if it is any agreement in this regard, the owner will be having right over the said extra floor, other wise not at all. ... if you want the said documents review in legally, I will do it.
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Adv. Chandrashekhar Vithal Jadhav
Bangalore | 200+ Answers
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