How to sell an old Pagadi building?- Property Hotline
August 10, 2016
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4:50Now PlayingHow to sell an old Pagadi building?- Property Hotline
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as posted by the channelExpert: Vinay Singh, Legal & Tax Expert.
Question: I live in a 70 year old Pagadi building. The apartment is in my father's name. The developer is not allowing me to transfer the property to a buyer. I want to sell this property and move out. How can I sell this property? At what rate should I sell this, since I'm getting a low rate for it? The apartment is located at Hindmata in Dadar East. I reside here with my wife. We are both retired and have no children.
Answer: Section 56 of the Maharashtra Rent Control Act, provides that a tenant can receive consideration for parting with his tenancy rights. Similarly, the landlord too can receive consideration for permitting transfer by tenant. If you have an agreement permitting you to transfer your tenancy rights or if your landlord agrees to such transfer, you may do so.
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