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