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Agreement Of Sale Under Rera

There are a large number of projects in progress in which the developer may have asked the buyer for more than 10% of the cost of the property under the ATS and may have been donated by him, which were (in the absence of requirement) and are still not registered. In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required. In light of the above, it should also be noted that the Maharashtra Real Estate Appellate Tribunal of Naim Kamruddin Shaikh vs. JVPD properties Pvt Ltd has decided that a registered agreement is not mandatory for obtaining corrective measures under the Real Estate Act in 2016. The Authority rejected the argument that the term “in accordance with the terms of the sale agreement” of Section 18 and Section 19 of the Act makes the existence of a formally registered sales agreement as a precondition for the exercise of remedies under these sections. In view of the fact that (1) a letter of award contains all the captures of an agreement for sale, (2) the phrase “as may be the case” in section 18 (1) of the Act is broad enough to cover the letter of attribution and (3) RERA is a welfare law, the court has decided that unregistered letters of attribution can be invoked for appeal under the Real Estate Act (regulation and development). , 2016. The developer is legally required to register the sale agreement under Section 13 of the Real Estate (Regulation development) Act 2016.

If it does not do so, it will be punished with a penalty of up to 5% of the estimated cost of the real estate project set by the authority in accordance with section 61 of the law. However, if the advance paid at the time of execution of the sale contract is less than 10% of the cost of the dwelling, the developer is not required to register the sale agreement in accordance with the measure of the law.13 The author believes that even if the authorities wish to obtain the compulsory registration of the agreement between the buyer and the owner, the necessary instructions can be issued by the authorities in their order, while the complaint is accepted.