Is flat purchase safe under unregistered builder-owner sharing agreement?
A Joint Development Agreement (JDA) is registered and signed by both the landowner and builder. It specifies the built-up area allocated to the landowner. Later, a Sharing Agreement on stamp paper (but not registered) assigns specific flat numbers to the landowner. Is it legally safe to buy a flat listed in this unregistered Sharing Agreement directly from the landowner? Can the builder dispute it later? Can I execute a sale deed with the landowner if I get a No Objection Certificate (NOC) from the builder on letterhead?
Buying a flat under an unregistered sharing agreement is risky. Always ensure the agreement is registered. Get the builder’s NOC notarized or preferably part of a tripartite agreement. It’s best to register the final sale deed with both the landowner and builder to avoid disputes. Consult a property lawyer before proceeding. For further legal assistance contact us on our helpline number.
Related Questions
24x7 Help
If we fall short of your expectation in any way, let us know
Payment Trust
All refunds come with no questions asked guarantee
