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Author Topic: Cancellation of registry of floor transferred to second or subsequent parties  (Read 750 times)

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Offline vin012015

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Hello,

This question is related to properties in Delhi. These days several houses are being constructed in collaboration with builders who construct a four storey building with stilt parking. Normally they take one floor and the original owner of the plot takes the remaining three floors.

In some cases the builder asks for execution of sale deed/registry of second floor immediately after completion of 5th lanter. This clause is added to the collaboration agreement along with the annexure containing all the construction work/material details

After execution of the registry in favor of builder, if the builder runs away after selling his floor to another party or stops the construction or delays it much beyond the agreed time period, can the registry be cancelled ? 

If yes, then is it cancelled by the MCD or by the courts. How much time does it take ?
If no, then what are the options for the owner.

Thanks,
Vin


 

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