Unregistered document valid or not

My Dear Friend Hari,

I would like to make it very much clear that according to section-17 of Indian Registration Act, 1908 when in a document a right, title and interest in an immovable property is trasfrered from one hand to other, the document becomes compulsorily registrable, therefore your agreement does not require registration.  It is valid if it is signed by both the parties as well as two attesting witnesses.  So far as the money is concerned you can forfeit it if your agreement contains any agreed provision for that.

MY ADVOCATE IS TELLING THAT DOCUMENT IS NOT VALID AS IT IS NOT REGISTERED.   BUT THE DOCUMENT IS BEEN SIGNED BY TWO PARTIES AND NO ATTESTING WITNESSESS ARE THERE IN THIS..

MY ADVOCATE IS SUGGESTING GIVE A PAPER NOTICE AND TERMINATION NOTICE TO BUILDER AND ALLOT THE SITE TO ANOTHER BUILDER AND GET THAT REGISTERED SO THAT IT WILL HAVE MUCH RIGHT THAN THE UNREGISTERED ONE..IS THIS CORRECT...CAN ANYONE SUGGEST ON THIS..

YOUR ADVOCATE HAS RIGHTLY ADVISED YOU. I AM AGREED WITH HIM.

Dear Mr Vijay Monga, could you please clarify points from your post.

I would like to make it very much clear that according to section-17 of Indian Registration Act, 1908 when in a document a right, title and interest in an immovable property is trasfrered from one hand to other, the document becomes compulsorily registrable, therefore your agreement does not require registration.  ( do you mean to say by default it get registerd?) It is valid if it is signed by both the parties as well as two attesting witnesses.  So far as the money is concerned you can forfeit it if your agreement contains any agreed provision for that.

Respected learned friends

As for as the registration of a document is concerned  section 17 of registration act speaks about compulsory registration of those documents in which any right is created, if any right created expressly in the agreement of Mr. Hari, then that agreement has to be registered if not there is a famous quote in the law that "agreements need not be registered' on the base of that agreement Hari can initiate a legal proceeding and his advocate has rightly advised to issue notice of termination and forfeiture, if then also contractor does not come forward Hari can initiate a suit for the same purpose. 

My Dear Amit,

If in an agreement no right title or interest in respect of an immovable property or any part of it is created then it requires no registration. In that case an unregistered agreement is valid in the eyes of law provided if it signed and executed by the competent parties, in a good state of mind, in the presence of two attesting witnesses.  You make it more clear one should look into Indian Registration Act as well as Contract Act.  Since no copy of Agreement has been posted by Mr. Hari one can not be sure about the fact whether it has created any interest or title in the property. 

As I could gather from the above discussions that money is received and possession of the plot is given to the builder for development by an agreement,hence interest in the plot of development is transferred,so registration was necessary but when it is unregistered,he can show to the court his possession by thisagreement for collateral purpose and he can seek injuinction.

who can show to the court and which possession by the agreement for collateral purpose and who can seek injuction..myself or builder..

Dear advocates,

I am getting some valuable information here but not able to get exact information..

Can i allot my site to another builder now and is there any chance for first builder to stop construction by law..

Do i need to refund the money as am reluctant to do because of the loss..

Asper regn act registration of agreements are optional. unregd. agrrement is valid in the court ofm law. seek remedy thro couert. natarasan