Planning to buy a under-constructed project in Hyderabad.

Q: Hi, I am planning to buy a project in Hyderabad which is under-construction and the builder is saying that the selling agreement need not have to be registered and the stamp duty have to be paid now. I am planning to apply for a loan; will the bank have a problem with unregistered property? I think AP Apartment Act requires this document to be registered. Will this agreement be acceptable in court if it is not registered?

Ramakrishna, Hyderabad

15th November 2011

Buying property in Hyderabad

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In relation to permanent property any agreement needs to be properly registered and stamped. If the Act needs to be registered, then it have to be registered. Bank gives you loan on the basis of your paying capacity, the bank has nothing to do with properties following rules or not.