Legal Question in Real Estate Law in India

Property

Dear Sir,

I was looking for a house in Kharghar in Navi Mumbai and finalised a deal on a 18 floor building located in sector 19 Kharghar. But just came to know that the plot on which this building is being constructed is 'GS' plot but the builder has obtained a tri party agreement and also has registred for development from CIDCO. Can u pls advice if there is a risk of purchasing a flat in this building. Are there any future difficulties anticipated if any for staying/selling and will I be able to sell this flat at par with other cidco clear title flats sorrounding this area. The builder is Maharaja Dream Homes Pvt Ltd and the building is ''Dream heights' Pls advice weather to go ahead in this deal or look for some other project. Your early reply is highly appreciated

Thanks


Asked on 4/28/08, 3:48 am

2 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Property

Please contact personally alongwith the details of the building and the land papers.

You have to check the CIDCO rules and regulations and the documentation done between the Builder and CIDCO.

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Answered on 4/29/08, 6:45 am
Shrichand Nahar S.V.Nahar, Advocate

Re: Property

Mere classification of plot is not sufficient to reply. You need to read and understand the CIDCO Regulations with terms & conditions of the documents executed in favour of the Builder.

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Answered on 4/28/08, 7:08 am


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