Procedure to sell my underconstruction flat even before registration

POSTED BY sasha ON October 29, 2012 9:02 pm COMMENTS (8)

I bought an apartment few months back and it will be ready for posession next month. I haven’t yet done the registration for it.  The only document i have is the Sale Agreement between me and the buider. I have taken a home loan for the flat from LIC HFL for 40lacs out of which 25lacs have been disbursed to the builder already. Now, I got an oppurtunity to move abroad and want to sell off the flat. I want to sell before i incurr the cost of registration. Today i got a buyer for it too. 

I’ld like to know what the procedure is to make such a sale ? Do i have to involve the builder in this or can i by virtue of the Sale Agreement just transfer over my rights to the buyer? What would be the tax implications? Will it be any problem with LICHFL if i ask them to let the buyer take over my loan ( of course provided he meets the eligibility criteria ) ?


Please share some experience if anyone’s been in similar situation

8 replies on this article “Procedure to sell my underconstruction flat even before registration”

  1. Sadanand says:

    I have purchased a flat ,it is under construction. Registration is been done. Now I want to sell this flat what is the procedure? How much time it takes?

    1. THere is no defined time line for this, you can do it in couple of days also if everything is ready !

  2. Unni says:

    hi saha what was your final status you could sell the apartment

  3. ashalanshu says:

    Dear Kaushik, the profoit ‘ll be calculated against the payment made by the seller to Builder. So from your query, you are earning 20L Rs. capital gains against your basic investment of 35L Rs.



  4. Kaushik G says:

    Not sure if there is another thread to discuss this, but here’s my question:
    How is the profit calculated for the sale of such an under-construction flat, considering full payment by the original buyer will itself be complete only when construction is complete?
    For eg: Assume total cost (at time of booking) is 80 lakhs and payment so far done is 25 lakhs (by own funds) and 10 lakhs (from bank loan). If current sale price is 1 crore, how is it split and how can the original buyer calculate his profit? I’m assuming payment will continue to be staggered on the basis of construction, right?
    Please let me know if I have to rephrase my question or explain further.

  5. Amit says:

    Dear Sir,
    We have booked a flat in Trivandrum last year . now flat is ready and the Registration process is due this month.
    and i have relocating to Gujarat state, because of my posting-transfer .
    now i have to sell this flat to the new buyer, so new buyer can registered directly from builder.
    i have asked from builder, they are allowing for this.
    The flat was finance thro a sbi home loan for 28 lakhs & the remaining down-payment was 10 lakhs

    but problem is :
    new buyer is ready to continue my exiting loan, but SBI home-loan is not allowing to transfer the loan without registration.
    now how to come out from this problem.


  6. Dear Sasha, had you completed your sell or not?



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