He has rights to sell the flat or penthouse of his shares which agreed in the development agreement. If you have inserted restriction clause in the development agreement that builder has to build first your portion and handover to you with certain limited time frame.

Check the time frame to construct your portion and hand over to you.

There must be suplementary sharing agreement executed between you and builder 

2) if as per agreement he was entitled to construct penthouse then he is at liberty to take loan on 2 rooms constructed by him 

Dear Sir,

You have many options:

Landowner can seek compensation from builder under law: SC

A landowner who signs a memorandum of understanding (MoU) with a builder to develop apartments on his land is a consumer, and can demand compensation under the Consumer Protection Act if the developer fails to complete the work in time, the Supreme Court has held.

A landowner who signs a memorandum of understanding (MoU) with a builder to develop apartments on his land is a consumer, and can demand compensation under the Consumer Protection Act if the developer fails to complete the work in time, the Supreme Court has held.

The ruling provides relief to owners of small plots who often enter into collaborative agreements with builders to re-develop their properties. The understanding usually involves distribution of flats between the owner and the real-estate firm. In case of a dispute, the parties have to approach the trial court – where the proceedings may run for years on end.

A bench headed by Justice Dipak Misra delivered the judgment on a petition filed by Bunga Daniel Babu, a resident of Hyderabad.

In July 2004, Babu had signed an agreement with a firm for constructing a multi-storey building comprising five floors, elevator facilities and parking space. While 60% of the apartments were supposed to go to the builder, the owner could keep the remaining 40%. Under the agreement, the construction had to be completed within 19 months from the date of approval by the municipal corporation – failing which the developer had to pay Rs 2,000 for each apartment every month.

According to the petitioner, the builder delayed handing over the apartments by three years but did not pay the stipulated compensation. To claim the money, he dragged the builder to the district consumer forum and attempted to invoke the Consumer Protection Act.

Although the district forum declared Babu a consumer under the law, the state and national consumer panels did not agree. Both said the landowner had entered into a commercial contract with the builder, and the transaction wasn’t meant for something of personal use. “The MoU that the parties entered into does not even remotely indicate that it is a joint venture,” the bench said, sending the case back to the state commission for a decision on how much compensation Babu was entitled to.

If it's completely in his ownership then he can do the same

You don't provide your signature. Let him obtain order from court. If you feel that the said property doesn't belong to him then file suit for seeking necessary stay for the same

Don't sign on Loan paper, to better legal solution we need to read whole Development agreement and the newly constructed and property papers for review all the documents.

It is necessary to peruse development agreement executed by you with builder to advice 

2) since you were owner of plot and builder had only dev

opment rights to sell or create third party rights on 2 rooms he needs your consent 

3) even for sale of your share of property builder should be confirming party 

4) he would have rights on 50 yards 

Dear Sir/Madam,

You are suggested that the said builder has all the rights for the loan or mortagage. 

You are the land owners so he need your signs.

But that loan will show in your account too.

So this is not advisable. 

Ask him to get the registration done on his name of the land of penthouse 

Yes.

Pent house may have constructed illegally but builder can manage to sell and take loan on it.

Dont provide any signature otherwise you may face problem in case of default by builder in repaying laon. Dont give any surety also.

His share of flats are sold by him, he has not share in remaining yards. Now get separate from him and dont sign anything.

- As per law, both the parties are bond with the terms of the agreement , and further approval of the same is mandatory. 

- Since the said builder has already got approval from the competent authority , then he can take the loan on the property for which he is having right to transfer . 

- As per rule, the said penthouse is not only a constructed part of the building where the said two rooms are based, but also is a proportionate share of the land on which the property is built i.e. undivided land share , and further as you are owner of the property , hence your consent is needed by the bank. 

The builder agreement clause to be perused before arriving at any conclusion. 

If the builder can sell his share of property then he can sell this penthouse also. 

However on the basis of POA , if he has not been authorized to mortgage,  then he may have to approach the owner for NOC or consent. 

The loan the builder would like to avail shall be on your name,  if he is not repaying the same in future then it will fall on your shoulder. 

He is not asking for your signature just like that. 

You will be the borrower because he is just your power agent hence he can't avail loan from bank in the capacity of your POA holder.

You may decline or refuse to sign or help him without seeing what papers does he needs you to sign in this regard. 

His consent is not necessary for you to avail loan on your property. 

if said share is as per agreement then he can sell Or mortgage. 

Call us through the website for further assistance.

He has a right if itvwas part of the agreement. Otherwise not.

He cannot take a loan taking your consent. Refuse your consent. He won't have any rights on the unregistered land.

1. Yes he can mortgage or sell pent house on his share if construction is allowed by you.

2. Your signatures are not required for loan application of builder he must be taking loan on your name or making you guarantor of loan you should read all the documents carefully before signing.

3. If you have given him equitable share in undivided land then he cannot claim more share then which is sold per flat by builder.

1. As per the information mentioned in the present query, makes it clear that you have a right to access as a matter of easement right impliedly when there is no way to get passed but to use the neighbour way.
2. I would like to apprise you that there cannot be a way to pass permission, but not the tractor when there is a space for the same.
3. Yes, you can make him partial party in the sale deed for securing his non changing statement in the future.
4. Or otherwise, eventually, you have an option to approach the civil court of law for easement rights impliedly.