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A sale agreement is an agreement in which the seller promises to transfer the future ownership of the property to certain conditions. Compulsory registration of the sales contract also has drawbacks for the buyer. This is an additional outfover of funds on the part of the buyer, who now has to pay twice stamp duty, once for the registration of the sales contract and then for the registration of the sales activity. In addition, it puts additional pressure on the buyer to pay a lump sum 10% of the costs of the property on the day he executes and registers the agreement with the owner, as opposed to more convenient payments in smaller tranches. Article 13, paragraph 1 of the RERA Act 2016 states that „the project proponent may not accept more than 10% of the cost of the dwelling, land or building, as may be the case in the form of an advance payment or a registration fee of a person without first entering into a written sales agreement with that person and registering the agreement for sale. according to a law in force at the moment.“ To understand the conflict between RERA and Registration Act, it is important to understand the difference between the sale agreement and a deed of sale. 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 If the sale agreement is inconclusive, does it raise another question as to the buyer`s ability to pursue the action in violation of the sales contract? This request was met under section 18 of the RERA Act, which states that the developer must compensate the purchaser if he was unable to complete the project and return possession of the property within the time frame set out in the sale agreement or sale agreement.

If the developer does not do so, he can file a complaint with the RERA Authority3 and claim damages. If he is aggrieved by the AMF`s order, he can file an appeal with the Court of Appeal for Real Estate Regulation under Sec 44 of the RERA Act 2016. A sale agreement, also known as a sales contract, is an agreement to sell a property in the future in accordance with certain conditions provided by the agreement. Section 54 of the Property Transfer Act, 1882, defines it as: „A contract for the sale of real estate is a contract that must be sold on the terms regulated by the parties“ The Real Estate (Regulation and Development) Act 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.