Q:Hi ,Am looking for a flat , and found a property . While enquiring understood it's JD project, where land owners has some shares. Is it safe to buy any flat from land owners share ?? The land owners price is less than the builders price..
Latest Answer: Some of the common points which should be checked by buyer before buying a property under landowners share. 1) In Joint Development Agreement (JDA), flat no not mentioned, 2) The biggest drawback of under construction property is that you can not find out whether property is mortgaged or not. Builders are transparent in this regard but if you are buying landowners share then it becomes very difficult to find out. 3) In some cases, Landowner give marketing rights to builder i.e. right to sell his flat. In this case, Landowner cannot sell his share directly.
