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what is procedure for sale of new under construction flat for which sale deed is not made yet with builder ?

Q: I have 1 BHK flat in a new project. 95% work completed and 95% payment made. Agreement with developer / builder is not made yet. I want to sale this property. What is the procedure to follow / what documents to be made for sale ?

Replies (2)
1
Hi all,
I bought the property at 3,650/per sq.ft for a 1092 sq.ft 2BHK flat . Right now the rate is 4750/sq.ft. Can u please tell me like how much a builder can demand in such cases as a transfer fee. I hope I m not asking for much. Kindly suggest?
Shantanu Kumar


Hi Shantanu,
As per my experience there is usually a lockin period of 1-2 yrs before which you can't sell and then you can seek with the builder permission and he would do all the needful but would charge maybe around Rs. 200-300/sq ft
Rakshit,  Mumbai
10th June 2014


2
HI Imtiyaz,
1. If you want to sell the under construction property, you would need to take the permission of the society for selling the property ( as there would be a need to transfer the share certificates also). While the society granting approval, can ask for a transfer fee too. There are some guidelines as to how much the society can ask for the transfer fee ( its probably limited to Rs. 25000). However there are cases where societies have asked for higher fees.

2. If the society is not formed, you would need to take the permission of the builder. Here the builder can too ask for any amount as "transfer fee"

3. If the property is not registered, and you want to sell it, you would again need to take the permission of the builder. The builder will definitely ask for some "transfer fees" and this would have to be negotiated. I assume that there would be a significant price rise from the time you booked and the price that you want to sell.

Therefo
Rakshit


Dear Rakshit, Thanks. Good and detailed response. I understood about transfer fee, but what document is to be made ? Is builder also a party to sign such sale agreement between owner and purchaser ?
Imtiyaz Ahmed, Apartment Resident, Mumbai
10th June 2014


Welcome Imtiyaz,
No, builder is not a party to sign such sale agreement between owner and purchaser. But you have to present all the documents got from the builder including the transfer agreement as well. He has to receive the transfer fee onlywhich is already mentioned in the agreement paper.
Rakshit,  Mumbai
10th June 2014


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