Up Rera Agreement To Sale

«Currently, most owners receive the contract for the sale signed by allottee, but do not register it. Registration is now mandatory. In addition, the owner and the buyer receive the same interest in the event of late payment and repayment, which will be a normal rate for bank interest plus 1%,» Kumar said. This question arises because the registration of documents is usually made to guarantee a clear right and ownership of the property to the buyer. A sale agreement as such does not constitute a clear property of the property. In the case of Durgawati Devi/Union of India2, the Supreme Court ruled that the execution of the sale contract did not entrust ownership of the property and that the property would be transferred only by transportation authorization. A team from UP Rera held a meeting with representatives of 14 builders and discussed the problems they faced in ensuring the early delivery of housing to allottees. During the meeting, representatives of the owners were also informed of the new sales agreement. Therefore, it should be concluded that the RERA Act 2016 on the Law of Registration in Power must be sold for the purposes of the agreement, because the sale agreement does not provide clear title, but can be implemented in court, in accordance with the provisions of the RERA Act 2016. At first glance, it may seem harmless and as a rule of protection, the language of this rule suggests that any documentation made between a developer/promoter and an Allottee prior to the execution of a sales/leasing contract (i.e. who must now be in the ATS/S ALS format) cannot restrict the rights and interests granted to allotte according to the ATS/ALS model. Ownership of all land should be clear and marketable, and it is said that it is done as such when executing the deed of sale. However, in practice, buyers make a sales contract as a precautionary measure, although they are aware that it does not create title to a property.

A deed of sale is considered an authentic instrument and also establishes a clear title to the property, since it is a document subject to the obligation, pursuant to Section 17, paragraph 1, of the Registration Act 1908. However, section 13 of the RERA Act 20161 stipulates that a sales contract must be registered. Although this is not the case with the Registration Act 1908. Therefore, the validity of the sale agreement always becomes an unresolved conflict. A real estate sale agreement that provides for the sale on terms agreed between the parties (sales contract or ATS) does not in itself create any interest in the property or a charge. Section 54 of the Property Transfer Act, 1882 (TPA), defines the sale as a transfer of ownership at a price and provides that the sale of land worth more than 100 INR (cent) can only be done by a registered instrument. It should be noted that section 54 certainly provides for the mandatory registration of the sales note, i.e.: