Dear Sir, I have started construction of house (G+2 floor) on 45 x 60 ft plot area. I have taken permission from authority for G+2 floor construction. Each floor has 2 units i. e. 2 family can live on 1st and 2nd floor. Now I have decided to sale floor / unit wise. I have also decided to keep one unit for self. Kindly advise 1) can I sell individual unit floor wise? 2) plot is patta suda, I took loan for construction of house, will I required to clear loan before selling units? 3) will this type of selling house is loanable? 4) what all documents will be required by buyer to obtain loan before purchasing these units?
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1) you can sell inivdual flat floor wise
2) you should out of sale proceeds repay the loan taken by you for construction
3) loan can be taken by purchaser for purchase of his flat
4) for purchase of flat bank would sanction loan if ttile is clear and marketable . bank would required building sanctioned plans , issue of commencement certifcate and on completion Occupation certifcate issued by muncipal corporation
1. Since you have built the houses in units it is your decision to sell them as individual units by observing certain formalities that is meant for the individual units, including the problems of common areas etc.
2. The loan on the property have to be cleared by you otherwise you cannot retrieve the original documents to execute a registered sale deed in favor of the buyer.
3. The individual who may buy shall apply for it as per his eligibility.
4. He may require the sale agreement and all other property related documents that the bank would be giving him as a list to fulfill the requirement.
