Legal Question in Real Estate Law in India

Residential to commercial

I have taken a residential flat a

year back in a 7 floors bldg. At that

time property values were high,

then recession hit and there was nt

a single flat which the builder could

sell.

Now the builder has got an offer

from a team of doctors to buy the

whole building & they are going to

make it into a super special hospital

.The builder has taken the token

also, but is he legally allowed to do

so and they are ready to buy our

flat also but at their price.

Also we were just about to shift all

our interior work is about

completion, how can i get rid of this

situation. I want to know is there

any means by which they can be

under us and not we under them as

they have cheated us.


Asked on 6/24/09, 3:00 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: Residential to commercial

There can not be any compulsion to sell.

These new purchasers want to purchase entire building, therefore, they should be paying a premium price to you.

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Answered on 6/24/09, 4:48 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Residential to commercial

You may need NOT to sell your flat on their terms.

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Answered on 6/24/09, 9:13 am
Rohini Kumar Tenneti R.K.1080 LEGAL SERVICES

Re: Residential to commercial

Taken a flat means have you purchased and got it registered from the owner/builder,or yet get it registered after making only an agreement?If its a regd. flat then you are not forced to sell unless you agree to sell it to the team of doctors.Nobody,legally,can compel you to sell the flat.

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Answered on 6/24/09, 10:52 am


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