Is Registered booking agreement same as sale deed in Pune

My question is, can the registered booking agreement be considered as sale deed?

Ans. As the nomenclature denotes it is only an agreement, A sale is one of the modes/ ways by which ownership of a property is transferred by one party to another for a price. The price can be either:

(a) Paid or promised to be paid

(b) Part-paid and part-promised to be paid.

This can be explained with the help of an example. Let's suppose X enters into an agreement with Y to transfer her/ his flat in Y's name for a consideration of Rs 10,00,000.

If Y pays the entire Rs 10,00,000 at the time of entering the agreement, the consideration is said to be paid.

If Y enters into the agreement and promises to pay the Rs 10,00,000 only when he has possession of the flat, the consideration is said to be promised to be paid.

If Y pays Rs 1,00,000 at the time of entering into the agreement and promises to pay the balance Rs 9,00,000 only on possession being given to her/ him, the consideration is said to be part-paid and part-promised to be paid.

In short, the word sale would mean complete transfer of all rights to the buyer of the property.

There are two parties to a contract of sale -- the buyer and the seller.

Any instrument whose subject matter is any right, title or interest of the value of Rs 100 or upwards needs to be compulsorily registered as per the provisions of the Registration Act, 1908 & sale deed is one such instrument.

The sale deed also need to be stamped as per the provisions of the relevant Stamp Act.

Thanks for the response. As i figured out myself, the builder has not signed the sale deed as yet and i am amazed.

Thanks a ton for the response. WOuld you know about the khata transfer. If that is required in PUne.

It is nothing but get the sale deed registered in local subregisrtrars ofiice, obtain index 2 of the same and enroll ur  name in ROR.If the builder is reluctant for the same go for MOFA act. 

This is a standard practise in Pune. The agreement with builder will automatcially become a proof of ownership when the sale considaration is fully paid as per the terms of the agreement..

So relax if you have paid the builder in full.

Typically the builder will intitiate the process of formaing a housing-co op scociety (or appartment owner's association) ones all land is developed for the project. The builder will have to make a conveyance deed in favor of newly formed society of flat owners. this is one comman document for the whole society and no individual sale deed is required.

Please note that the land, building will be owned by society of which will a share holder. If you sale the flat in future (after society formation) then you will have to excecute "Deed of assignment" ( the flat is not yours to sell :D it belongs to society but you can assigne your rights to the purchaser by way of above agreement)

So, if you have paid the full stamp duty for the flat price at the time of above agreement, the agreement is equivalent to sale deed.

Also note that if you want to sale the flat BEFORE the formation of co-op housing soceity, then you will have to involve builder in the sale by way of triparty agreement (again a very comman practice in Pune)

I hope this helps.

NO, registered booking agreement IS NOT be considered as sale deed.  WHEN BUILDER GIVE A POSSESSION U REGISTERD A SALE DEED.

Normally the bank verifies all the documents and I too have bought a property with Bank loan.  Bank is satisfied with the papers submitted for registration.