Online Copyright Registration in India

Protect your creative work
Books, Songs, film, websites, Software, painting, fashion Design etc
Call now: 09891244487

Ask Our legal Experts, on issues related to Divorce

File Mutual Consent divorce right away

Call at ph no: 9650499965
Search On:Laws in IndiaLawyers Search

To Appeal before CIC - Central Information Commission
For Filing and Hearing contact: Choudhury's law Office
Ph no: 9873628941

Author Topic: Shop in mall  (Read 1077 times)

0 Members and 1 Guest are viewing this topic.

Offline Kvmahesh

  • Newlaw
  • *
  • Posts: 2
  • Karma: +0/-0
  • Welcome to legal Service India - law forum for free legal Information
    • View Profile
Shop in mall
« on: September 19, 2015, 06:40:29 AM »
I am planning to buya shop in mall which is under construction@ Hyderabad

I have three questions.

1. What are precautions to be take while purchasing the property in mall.

2. Proposed mall is of six floors and for 3 floors builder obtained permissions and for remaining awaiting environmental clearance to start construction.. Can I purchase before obtaining all permissions?
3. Builder promising certain return on investment and willing to make legal  agreement..  is it acceptable? If so what kind of precautions to be taken?

Offline adv.amarnath

  • Veteran at Law
  • *****
  • Posts: 1244
  • Karma: +52/-7
  • Advocate Amarnath Sanyal from Kolkata, West Bengal
    • View Profile
Re: Shop in mall
« Reply #1 on: September 19, 2015, 06:57:53 AM »
1. you have to go for 'Searching' in respect of the entire developing property (MALL).

2. You have your answer in your query.

3. You can enter into Agreement for Sale not Deed of Sale/ Conveyance.

You can show me the documents what he proposed to execute with you i.e. Legal Documents as per your version. For further clarification you can contact me over email.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline Kvmahesh

  • Newlaw
  • *
  • Posts: 2
  • Karma: +0/-0
  • Welcome to legal Service India - law forum for free legal Information
    • View Profile
Re: Shop in mall
« Reply #2 on: September 19, 2015, 08:06:57 AM »
Thank you very much. I am still in price negotiations.. However, I already informed builder that I will enter into legal agreements after obtaining all permissions.

Offline adv.amarnath

  • Veteran at Law
  • *****
  • Posts: 1244
  • Karma: +52/-7
  • Advocate Amarnath Sanyal from Kolkata, West Bengal
    • View Profile
Re: Shop in mall
« Reply #3 on: September 19, 2015, 08:16:20 AM »
You can enter into agreement for sale before getting any permission. Agreement for sale mean you have created interest on that shop property so that he cannot sell it to 3rd party. Further in Agreement for sale you can cancel it at your option if you found that property is clear or have not got permission within a time bound period or prior to get register in your name.

You can show me or I can guide you to make that agreement for which you have to contact me over email.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline kphk

  • Veteran at Law
  • *****
  • Posts: 167
  • Karma: +6/-5
  • Welcome to legal Service India - law forum for free legal Information
    • View Profile
Re: Shop in mall
« Reply #4 on: September 20, 2015, 10:14:11 AM »
Hi, Agreement for sale does not create any interest in the property and also does not prevent the owner from selling it to 3rd parties. You enter into an agreement, you merely have a right to get the sale deed executed, by way of specific performance, in case the owner defaults. Agreements are covered by Indian Contract Act, 1872. Interest over a property is created only under the Transfer of Property act, 1882 by way of execution of sale deed and the actual transfer in law happens only after registration. My suggestion is wait till he gets all the permissions and then enter into a conditional agreement as suggested by adv.amarnath. What you write in the agreement is very crucial, so take care !

Offline adv.amarnath

  • Veteran at Law
  • *****
  • Posts: 1244
  • Karma: +52/-7
  • Advocate Amarnath Sanyal from Kolkata, West Bengal
    • View Profile
Re: Shop in mall
« Reply #5 on: September 20, 2015, 08:27:20 PM »
Mr.KPHK,
I am very sorry for pointing your your confusion. Where you have studied that Agreement for Sale does not create any interest? Please explain here.

I defy your suggestion partly. Agreement For Sale is being done for creating interest in the property for a specific period. With the prescribed period the buyer has to make registration. This is the LAW. Do you know Agreement for Sale can be revoked if the property is found to be illegal or not clear for registration with compensation as agreed between the Seller and Purchaser.....???

I am very Sorry that I am refreshing the Laws which a Law students studies. Please, don't misguide people. They come to us for relief and they are not for an experiment even on free advice. Being Veteran in Law this suggestion is not expected from you. Further please don't make this post into our debate or argument stage. You have referred me in your post, So I
« Last Edit: September 20, 2015, 08:29:02 PM by adv.amarnath »
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline kphk

  • Veteran at Law
  • *****
  • Posts: 167
  • Karma: +6/-5
  • Welcome to legal Service India - law forum for free legal Information
    • View Profile
Re: Shop in mall
« Reply #6 on: September 20, 2015, 09:42:29 PM »
That agreement will be void or voidable for numerous reasons as embodied in sec. 23 and 16-22 of the contract act is not denied sir. It can or cannot be revoked depending on its terms and not for the reasons you state. I will be grateful if you can produce a citation to the effect that agreement creates interest over property, because the burden is on the one who claims so.

 

File a Consumer Complaint
Property verification
Call: 9873628941
 

Lawyers in India - Listed city wise Mumbai
Bangalore
Pune
Pondicherry
Jaipur
lawyers in London
lawyers in Birmingham
Chennai
Allahabad
Ahmedabad
Jodhpur
Indore
lawyers in Toronto
lawyers in Sydney

Cochin
Lucknow
Ranchi
Thane
Janjgir
lawyers in Milan
Johannesburg

Delhi - New Delhi
Chandigarh
Surat
Nashik
lawyers in New York
los Angeles
Kolkata
Hyderabad
Rajkot
Nagpur
lawyers in Dhaka
lawyers in Dubai

Copyright Registration

Ph no: 9891244487

For Mutual consent Divorce in Delhi - Ph no: 9650499965

Home | Bare Acts | Law Forms | Supreme Court Judgments | Legal Advice | Lawyers | Submit article | Sitemap | Contact Us

legal Service India.com is Copyrighted under the Registrar of Copyright Act ( Govt of India) 2000-2016
Get Free legal Advice here from top notch lawyers in India