You can request builder to execute registered sale deed as 70 per cent of consideration has been paid by you
I am purchasing a flat from builder directly and i have paid 70% of the total amount. Property have completion certificate. Can I go for property registration at this stage?
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You can request builder to execute registered sale deed as 70 per cent of consideration has been paid by you
Yes you can proceed for registration of the flat if the flat is ready to occupy and fit for living in all aspects. If the builder is asking you to come forward for registration only to collect the balance payments from you and the flat is still not complete in all aspects, then inform the builder that you will complete the registration only if the flat is completely ready to move in and not earlier as demanded by the builder.
If the builder agrees, then it can be registered even initially.
If you are on the safe side with respect to completion and other factors, then you can go for registration.
Hi
You should go ahead with the Registration as you have paid 70 %, to safe guard your money.In fact immediately after initial payments or after the 20% of the payments the sale agreement should be registered to safe guard the deal.
you will be always at advantage with a proper registration of the sale agreement.
having got a registered agreement of sale you are equipped with your right against the builder in case of any delay or default from his side.
it will also help you to proceed with a demand of specific performance of the contract against the builder if anything goes wrong from his part.
If the builder has already obtained the occupancy and the completion certificate, the builder can legally execute the sale deed in your favour, once you make the payment of the entire sale consideration.
Thus, registration is definitely possible at the present stage,
These material facts are required to answer your query meaningfully:
1. Is the property in a DTCP approved scheme?
2. Is the building licence in order?
3. Has the chain of title been clearly established?
4. Has the EC been verified?
5. Has the Occupancy Certificate been issued by the competent authority?
6. What are the terms of payment according to the construction agreement entered into with the builder?
hi, after getting OC ( occupation certificate ), the builder will itself offer possession and will make a sale deed in your favour
1. If you have conducted due diligence and found the title to be free and marketable then you are free to execute the sale deed.
2. If it is a flat then possession cannot be given unless the OC is granted.
You can go for purchase of the flat by registering the sale deed.
You may have to check with the builder weather the project is registered under RERA or not?
Under the RERA it is mandatory to register the project to protect the buyer's right. and you also ask to occupation certificate as well.
If you have been given possession letter and the completion certificate you may proceed with the registration, however you may insist on the occupation certificate.
If the builder is having registered power of attorney deed in his favor duly executed by the landowner, then the builder can execute a registered ale deed in your favor.