Legal Question in Real Estate Law in India

sir/mam,

As a private builder , can i sell my flats by the means of draw by allotment.(eg: done by DDA or any other govt. authority)

i.e if suppose i want to sell my 2 flats costing 40 lacs each, and for that i wil give a public advertisement in which i will invite public to participate by depositing Rs. 5000/- each, which will be non refundable. And once the application is closed i will make a draw of the participants and the lucky one will be alloted with the flat at some lower cost.

So, is it legaly possible or not, if yes kindly tell me the procidure to conduct it.


Asked on 1/12/12, 8:30 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

no such draw is legal for a private builder and a builder cannot invite public money this way. however, you may see a lawyer in person for further guidance.

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Answered on 1/12/12, 10:27 pm
Shrichand Nahar S.V.Nahar, Advocate

Take permission and chit law and proceed.

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Answered on 5/25/12, 11:10 pm


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