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How to purchase a flat/apartment

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  23 May 2015 12:00 AM GMT

Scarcity of land in Guwahati has led people to flats in apartments, leading to boom in real estate business.

Step 1: In order to purchase a flat/apartment, a person has to apply before a builder, get the allotment letter approved and sign an agreement after paying a specific amount.

Step 2: A register deed is reached between the builder, called first party, and the purchaser, called second party. The agreement should contain all terms and conditions reached between the two parties in accordance with standing rules and laws. The agreement should also have details of the flat/apartment, land area, daag number and patta number etc.; description of common amenities in the apartment, specifications of residential flats, etc.

The First party should obtain permission from the Guwahati Municipal Corporation through an NOC to construct on the said land a residential building comprising independent flats/apartments to be finced by allottees of such flats/ apartments.

The agreement should mention the way of transfer of the said flat/apartment and the undivided and proportiote share of the land and/or any statutory mode of transfer to the second party.

The agreement should have details of part payments made or to be made.

The Second party pays the cost of legal documents.

Step 3: An application has to be submitted to the DC office for sale permission. The application should clearly mention the area of land and its value.

If the registration is in the me of a male, stamp paper worth 5 per cent of the total value and 2 per cent for government registration have to be paid. These amounts will be reduced to 4 per cent and 1 per cent respectively in the registration is in the me of a female. And if the registration is of a male and a female, 4 per cent stamp paper and 2 per cent government registration will be charged.

Step 4: Holding number and power connection are a must after the sale deed is signed.

Step 5: The flat/apartment has to be mutated in the me of the purchaser through a mutation case in the circle office.

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