Yes there is stamp duty and registration charge applicable for same. Yes registered agreement is necessary.
No builder can take only 10 percent without agreement to sale, only after agreement he can take balance amount.
Challan for agreement of sale as per RERA
For a RERA registered property which is under construction in Hyderabad, I wanted to know if there are any additional charges apart from documentation/ legal charges payable by the buyer. I s there an additional charge for registration of sale agreement in Hyderabad? Is it mandatory to do this? The base price for the 2 bhk that I am planning to purchase is less than 45lakhs. I have already paid a booking amount but the builder is asking for 30% payment before an agreement of sale. Is this permitted within RERA laws?
Asked 5 years ago in Property Law
Religion: Hindu
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10 Answers
There is no such rule that the buyer has to made 30% payment before executing agreement to sell as per RERA.
They would be charges for drafting of the agreement to sell as well as registration charges, which has to be paid equally by both the parties. Though, registration is not mandatory.
Unregistered agreement for sale is admissible in evidence
2) don’t make payment of 30 per cent without registration of agreement for sale
RERA is primarily to safeguard the buyer and it provide a system wherein the said buyer can go and claim the recovery lot sooner than any other legal mechanism.
If you have made a booking amount. Then, there should not be a payment further unless the contract get signed or otherwise has been mentioned in the project itself. Go through the project outline once again and find the structure of the payment and timelines. If it is there, follow it because a copy of the same is also given by the builder to RERA. Else, ask them the reason behind the additional payment...
Yes, he can that will be subject to the clauses of the agreement which he is to with you so please first read carefully the clauses and you will find that clause there, if correct then go ahead otherwise no.
Registration charges are the applicable charges as per the sub registrar office. No other additional charges can be taken for Registration
Additional charges are stamp duty and Registration charges.
You can pay 30% amount after registration agreement of sale.
1) Asking 30% amount from builder is valid at that time when more than 30% construction work is completed of the project.
2) In Agreement to Sale deed builder must have attached project completion flow plan and according to that you have to pay the payment.
3) If the Completion flow plan is not mentioned than you can ask from builder and physical you can also check whether it has been completed or not.
- As per the information mentioned in the present query, makes it clear that your builder is telling you something which is not there in the RERA law.
- He should understand that the amount will come to him finally as per the agreement to sale, then why to say all these baseless reasons for getting money early.
- There will be only drafting and registration charges (which may not extend to more than few thousands only).
- Thereafter, at the time of getting the sale deed registration you will have to pay stamp duty accordingly, but surely not any amount for now which has been asked by the builder.
The sale agreement may not be registered but the sale deed has to be registered unless it cannot be considered as your property.
You may go through the agreement conditions about the payment aspects which you have agreed and signed, to avoid any misconception on this.
RERA will not interfere in the payment aspects until and unless it is unjustified and illegal.
