… The Transfer of Ownership Act of 1881 has been amended, so that no transfer of ownership should be carried out in part if the sale agreement – i… is not open to the contract buyer to establish a defence based on Section 53-A of the Transfer of Ownership Act (TPA) … Indian Stamp Act, which provided that 90% of the stamp duty would be paid for the sale agreement, the property being owned … [Provided that an unregord document required by that Act or the Transfer of Ownership Act of 1882 (4 of 1882) may be obtained as evidence of a contract in a lawsuit for a chapter II defined benefit, if the Specific Relief Act, 1877 (3 of 1877), or as evidence of a security transaction that is not to be carried out with the registered deed.“ The Real Estate Act (Regulation – Development) 2016 (law) was notified in full on May 1, 2017. Section 3 of the Act requires the registration of a real estate project by the developer when the developer intends to promote, market, reserve or sell a property in the aforementioned project. Registration is also required for ongoing projects for which the developer has not received a graduation certificate. Therefore, the law applies not only to future projects, but also to ongoing projects for which construction began before May 1, 2017. For some ongoing projects, an ATS would have clearly been implemented to cover the rights, obligations and obligations of the parties, and the purchasers would have made partial payments in exchange for a block contribution.
The amount of payment depends on the time frame chosen by the allottee, i.e. the construction link or the fixed time frame. In this context, Section 13 of the Act now provides for mandatory registration of the ATS. Hon`ble Court held that Section 17 (1A) simply stated that such an unregauble contract could not be put into service within the meaning of Section 53 (A) of the Property Transfer Act of 1882. Section 17 (1A) of the Registration Act, 1908, does not prohibit in certain terms or with the necessary intent to file a lawsuit for a defined benefit on the basis of an unregistered sale agreement covering the surrender of the property or for the benefit of a person to whom possession is delivered and the condition of Section 49 of the India Registration Act. , 1908, paid on any contrary argument.