Opinion/help needed
Gowrish
(Querist) 12 August 2014
This query is : Resolved
Dear Sir,
in my city, a land developers was launched a project, there are around 150 sites(30*40/30*50/40*60)available for sale, so i was interested to buy 2 site measured 30*50 each. so i paid 50% payment as booking and down payment and land developers executed agreement on non judicial e-stamp paper on may 20 2014
in that agreement,it is mentioned that within 3 months of executing that agreement it can be registered
we planned to apply bank loan for remaining 50% payment,so today approached to land developers for certain checklist document asked by a bank for providing loan, and land developers assured us will provide those documents within 15 days, and bank says that it requires atleast 20 days to sanction a loan after submitting required documents to the bank.
till today its already 2 month 20 days passed after executing agreement, suppose land developers will given a document in next 15 days and bank will sanction a loan in 20 days after submitting checklist, it takes total 45 days to gets registering a site
so my query is
1.in the agreement it is mentioned that land is to be registered within 3 months of executing agreement, so my query is it cannot be possible to me to get it registration
2. as per the transfer of property act, timing of registration is within 4 months of executing agireement, if it is not possible to register the site within 4 months of executing agreement, can we register the same after 4 months?
please help me in this regard and legal hurdles any or can i take any precaution measures......
waiting for your valuable advice
Nadeem Qureshi
(Expert) 12 August 2014
Dear Querist
contact a lawyer personally or over the phone, you can easily bear consultation fee.
ajay sethi
(Expert) 12 August 2014
it can be registered even after 4 months on payment of penalty . maximum registration time is 8 months
Devajyoti Barman
(Expert) 12 August 2014
if you are aggrieved by his conduct then file case in consumer forum.
Rajendra K Goyal
(Expert) 12 August 2014
Ask the developer for extension of time. If not granted, move to court to extend date as the required documents were not provided to you in time.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 14 August 2014
As per MOFA, Acts makes it mandatory for builder to execute document duly stamped n registered within 4 months since requisit amount is paid. However agreement can be registered in 8 months with minor penalty
