Main image
9th September
written by Tellus

But if we analyze Sec 13(1) of the RERA Act 2016, which states that a sale agreement must be registered in accordance with applicable law, it means that a sales agreement will be registered in accordance with the provisions of the Registration Act 1908. If the sales contract is unfounded, another question arises as to whether the buyer can remedy it in the event of a breach of the sales agreement. This received a response under Article 18 of the RERA Act, which states that the developer must compensate the buyer if he was unable to complete the project and hand over the property within the deadlines set in the sale or purchase agreement. If the developer does not do so, they can file a complaint with the RERA Authority3 and claim compensation. If it is breached by the Authority`s order, it may appeal to the Real Estate Regulatory Appellate Tribunal, in accordance with section 44 of the RERA Act 2016. It must therefore be concluded that the RERA Act 2016 classified the Registration Act for the purposes of the sale agreement, given that the sale agreement does not contain a clear title, but can be applied in court in accordance with the provisions of the RERA Act 2016. When we analyze the provision, we can understand that the document contained therein is a sales agreement. It is also stated that the sales agreement as such falls within the category of Article 17(2) of the Law on registration as a non-mandatory document. The ownership of real estate should be clear and marketable, and it is said that as such it is only at the time of execution of the deed of sale. However, in practice, buyers perform the sales contract as a preventive measure, although they are aware that it does not create title to a property. A deed of sale is considered an authentic deed and also creates a clear title to the property, since it is a document that must be identifiable in accordance with Sec 17(1) of the Registration Act 1908. However, in accordance with section 13 of the RERA Act 20161, a contract of sale must be registered. However, this is not the case with the Registration Act 1908.

Therefore, the validity of the sales agreement always becomes an unresolved conflict. Section 13(1) of the RERA Act 2016 provides that “a developer may not accept a sum exceeding 10% of the costs of the accommodation, land or building, as may be the case, as an advance payment or registration fee from a person without a prior written agreement to sell with that person and registering the agreement in question for sale. according to any law currently in force”. A sales agreement is an instrument in which the seller promises to transfer the property to a buyer if there are certain conditions, but does not create the buyer`s ownership of the property. Although the RERA Act 2016 has a non-obstante clause in sec 89 and becomes applicable as a result of the same RERA through the Registration Act 1908. On the other hand, it is also available on some other issues, for example. .

Comments are closed.