Is it okay to register an apartment before it is completed? What problems could one face?

Q: The builder is asking me to register the apartment I have purchased as apparently this will help me save money in case the guidance value goes up.

Dinesh Devarajan, Apartment Resident

9th March 2016

Buying property in Jalahalli East, Bangalore

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Registration of the property is a full and final agreement signed between two parties. Once a property is registered, it means that the property buyer in whose favor the property is registered is the lawful owner of the premises and is fully responsible for it in all respects. The law does not recognize unregistered owners and does not give them any rights over the property. Therefore, Registration of Property is Compulsory to prevent fraud or future litigation. I think it will be good for you if you register the property now itself.

Janak Desai, Bangalore

10th March 2016

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Thank you Janak. I was planning to register the apartment on completion, however it is still under construction and will only be ready by the end of the year. Am I likely to face any problems if I register the apartment before it is completed?

Dinesh Devarajan, Apartment Resident

10th March 2016

Hi Dinesh! The new real estate regulatory bill has brought on new changes when it comes to registration of residential as well as commercial properties. It will now be compulsory for all projects and brokers to be registered with the real estate regulator who will settle disputes as well as oversee transactions. You can read more about the changes which the bill brought about at: https://realestatenewsonthegoblog.wordpress.com/2016/03/11/real-estate-regulatory-bill-5-things-you-need-to-know/

Priya Desai, Mumbai

11th March 2016

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