Any issues in buying flat at a cooperative in action area?

Q: Got an opportunity of buying one flat at a co operative in action area
1. I am not the member of the cooperative. Builder says I can buy the flat..no problem. I can even take loan against it. Please tell me if there is any loop holes? or will I face any difficulty at the time of registration? Or will there be any problem at the time of selling the flat?

Sounak Dey,

28th September 2012

Buying property in Kolkata

co-operative housing

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Replies (3)

Sounak, what is the project name where you are interested in buying flat? Or tell me which is the co-operative?

Kaustav Paul, Kolkata

28th September 2012

Comment

I don't know the name. I need to ask them. Will post accordingly.

Sounak Dey,

28th September 2012

When builder himself is telling that you can buy then I think there's no issue in buying.. If you have doubt then discuss regarding this with builder and ask him to provide written statement of what he is saying..

Alokesh, Kolkata

28th September 2012

Comment

Thanks for suggestion Alokesh

Sounak Dey,

28th September 2012

Hi Sounak, I have few queries.. Are you buying it in an auction or normal sale.. Is the sale open to members only or any common man?

Bijoy Das, Kolkata

28th September 2012

Comment

Bijoy, it is open for common man. Anybody can buy (as they say). It is not auction..it is normal. Developer said, they created a cooperative with 8 members and all the papers are with SBI. I just need to pay 30% and then be a member of the co operative. Then I can also go for bank loan from SBI. Please let me know your opinion.

Sounak Dey,

28th September 2012