Ask Us

You will need to obtain the entire chain of agreements and share certificate in original. Please get all society transfer forms signed as well as a power of attorney to enable you to tie up any loose ends later. Take a no-objection certificate NOC and no dues certificate from the society to avoid any possible disputes later. Further,ensure that you take proof of payment of electricity bills,telephone bills and other outgoings while taking possession. It is also advisable to conduct a title search.

I am purchasing a top floor flat in Munirka in Delhi. The builder if offering me the roof rights. Should I go for it?

Om Parkash,Delhi

Common areas cannot be sold to any one flat owner and hence this would be illegal. You will also enter into likely disputes with other residents or the Residents Welfare Association over this.

We had booked a flat in Pimpri,Maharashtra in 2008 and the builder had promised us possession in May,2010. There was a long delay and we got the possession in April 2011 and,meanwhile,we were also paying rent on our accommodation. The building does not have an occupancy certificate till now. Is this a problem?

Smita Patankar,Pune.

The builder cannot legally give you possession until the occupancy certificate OC is received and you cannot legally use the flat also. If there is no OC,you also pay much higher taxes and water charges. There is also the risk that there is some violation of building permissions and therefore the builder is unable to obtain the OC. Further,in case of loss of life or property,the insurance company may also repudiate your claim on the grounds of illegal

occupancy.

The expert is Vinay Singh,Chartered Accountant

For queries on real estate,please mail us at estatesexpressindia.com

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