SDIL is not allowing sellers to sell their apartments

Q: Hi Guys, I came to know that SDIL is not allowing sellers to sell their apartments, did anyone else have this issue.

KRIS, Bangalore

31st December 2012

Builder Review in Sovereign Unnathi, Kalkere, Bangalore

Follow Discussion

Also see discussions for

Bangalore Kalkere Sovereign Unnathi Builder Review Builder Review in Bangalore Builder Review in Kalkere Builder Review in Sovereign Unnathi

Replies (5)

Most of the problem with the builder is resolved. The builder has agreed for the owner to sell their apartment with financial gain. I have got a written approval from the builder. Also the project site can be visited every 2nd and 4th sunday between 12 and 3 PM.

Amit, Apartment Resident, Bangalore

14th April 2013

Comment

That is absolutely not fair to impose new rules and regulations which was never a part of the sale agreement earlier.

Bhargav Dev, Bangalore

2nd January 2013

Comment

I too had a similar problem, why are they coming up with new standards and rules that was never a part of the sale agreement earlier. Why would any investor ever buy a flat if he can’t sell it at a gain and why should it ever be SDIL's interest if we make a profit or not, as we are still paying the transfer fee to SDIL. They seem to coming up with double standards. Not sure if any of the investors would ever want to invest in Sovereign’s other projects SONAA and LAKEVIEW if they got to know how they are trying to prevent resale of flats in Unnathi.

Madhu,

1st January 2013

Comment

No Idea, but I believe that they making the process of resale very difficult indirectly pushing the sellers not to sell.
They are asking the sellers to pay off the full bank loan, if availed and get a NOC and NDC – No seller will have the money to pay of the full bank loan, this itself will act as a deterrent for many sellers.
They are also asking the seller to give written statement that he/she is not making a profit in this resale.
If they keep such policies, most sellers may not be able to re-sell their properties.

KRIS, Bangalore

31st December 2012

Comment