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COur home is on a small land of size 190 sq. yards. there’s an engineer who lives in our street, he acts like he owns the street because he has built 3-4 houses here (including ours 10 years ago).
This guy wanted to buy our land for some cheap price, but dad rejected because being here from his childhood. Now from past 1 year he’s offering a development plan, means he gets 50% of our land (almost for free) and builds some G+2 or G+3 in exchange on remaining 50% lamd of ours.
6 months ago, this same guy bought local goons our house because we were having some problem with his construction which was happening beside our house. we filed a petition against this engineer and 2 days later he bribed police to close it. we tried to sell our home via real estate agents but that guy always communicated with those agents directly, he’d always argue the land price we are offering is too high because our street is just 10-12 feet wide. we also looked for development offers by other engineers but this guy for no reason talked to them too.
The engineer is offering G+2 which might take upto 3-4 years, and he takes care of our rent till then. but he didn’t say anything regarding money, we got to know builders usually offer some inhand cash too while getting deals from other engineers. even dad looks Okay with that (maybe dad isn’t saying it to us).
Now dad has almost finalized the development deal with this engineer and we’ll be shifting our house on 1st it seems. this engineer looks suspicious, so looking for legal or precautionary advises just to be on safe side if anything goes wrong.
Also want to know, is 190 sq. yards of land too big ? never heard of development on such small lands. Our land is not registered on government records (dad says), it’s registered under notery (some similar term)
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IDon’t vacate the house. 190 sq yards is around 1700sqft of land. Even small builders do not consider less than 2400sqft of land for development. Construction time should be max 6-8 months or max 1 year to build G+2.
Which city is the land located in? What’s the approx price for sqft of land? You should do some math before agreeing. Also just don’t commit to verbal agreement. You should consult a property lawyer and then proceed further. Make an agreement between your dad and engineer with strong T&Cs in your favour in case dispute arises in future.
Since you mentioned that the land is not registered, that engineer might be aware of it and want to take advantage of it. My suggestion is get your property documents updated and corrected from a lawyer then apply for loan and construct with your own money. That engineer seems like he wants to grab the land.
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Cland is located in hyderabad, near shaikpet (close to IT corridors). we’ve heard land pricse here range between 65-70k per sq. yard. we have no idea how much the construction would cost.
The plan is we’ll split the property 50-50 and build same apartment both the sides. ground floor will be having parking space with 1 bedroom, kitchen and washroom. remaining floors will be having 2 1bhk flats on each floor + a lift which will be shared by both parties.
Dad is actually pissed off with everyone recommending him to accept the offer, so he’s thinking that engineer is doing something good for us. and yeah, that engineer is well aware regarding our property documents. will try to consult a lawyer and get things clear between us.
Thanks for the advice 🙌
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Sno one will do good to no one. So look for what’s in for him and what’s in for you. find value of land there from his competitor How many flats he is taking and how many you. who holds registration. Dont sign any papers. He has to finish the building in 18 months and pay your rent and pay cash and ownership of flats.
Get everything on contract. Take blank cheques for rent from him. Protect your self legally.
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