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Banerjee A (Principal Consultant)     27 February 2014

Builders are requesting for registration of property before

Hi - I have bought a property in Bangalore and as per the builders it would be complete and handed over to me by May 2014. However, they have asked me to get the property registered in March itself.

My question -

1. Is it legal or sensible to have a property registered even before possession and what would be the implication if I decide to register once it is handed over to me. Will there be a huge change in the guidance value or the stamp duty & registration fee if I get it registered next financial year (in May or June).

2. What are the chances of deliberate delays from Builder side once the registration is done? If there is a delay, what are the possible actions can be taken against them.

Please respond.



Learning

 2 Replies

Subash M R (Advocate)     27 February 2014

1)It is possible to get the property registered in your name before its completion and answer for your second part of the questions in all negative in view of the latest changes guidance value and stamp duty & registration charges  may remind unchanged.

2) you can claim for exemplary damages for delay caused in handing over the possession by the builder.

Thanking you,

Subash.M.R.Advocate       

Naveen Kumar (service)     24 May 2014

Mr.Subash, If we get the property registered before its completion, in future the builder denies/rejects to give amenities/services etc., as agreed in construction agreement/sale agreement what will be consequences


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