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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.