Cancelling sale after NOC

[sandeep]

wanted to sell my flat and signed an MO with a buyer. I applied for NOC but then decided that i do not want to proceed with the sale. The MOu says that if any party cancels the sale they have to pay 10%. I am willing to pay the 10% but i was told by the land department that if i cancel the sale they will block the property from selling or renting for 2 years. Since i have applied for NOC.
can they do so? on what basis.. i did not take any money from the seller.

 

[Ahmed Rezk]

Dear Sandeep , i do not think that they can do that with your flat ,to be sure let me ask my manger who is teaching in RERA about that and I will let you know

 

[sarsora]

Hi ....
you can check RERA website

 

[armaanadvisors]

I dont believe RERA can do that. You may pay your agreed penalty and get a No Further Claim certificate from the other party.

 

[armaanadvisors]

RERA does not do that. Pay your penalty and claim a No Claim Certificate from the other party.