Legal Question in Real Estate Law in India

ABC Co. is entering into a Joint Venture Agreement for development of a plot of land in Gurgaon (Haryana) wherein ABC Co. will get one flat as its share. The plot of land is mortgaged with a bank.
1)Whether the Joint Venture Agreement can be registered in Gurgaon?
2)Whether registered General power of Attorney (GPA) can be obtained by ABC Co. for registration of its share in the name of Purchaser/nominee
3)If GPA cant be obtained what other recourse does ABC Co. has to secure its rights?

Asked on 9/17/13, 10:50 pm

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18.09.2013

Dear Sir / Madam,

Here are my answers :

1) YES, the Joint Venture Agreement can be registered in Gurgaon.

2). Ideally, flat should be registered in the name of ABC Co. itself. Power of Attorney is not recommended.

3). ABC Co. will have the flat as its asset in its books of A/cs.

Regards,

Answered on 9/18/13, 12:16 am

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