Latest Answer: Hi folks,
The problem is point up when there are some clear differences between RERA and the state laws, which will affect the interest of the home buyers directly.For example, the RERA says if you are charging more than 10% of the value of the property as advance payment, then the document must be registered. On the other hand, the Karnataka Apartment Owners Act says, the document needs to be registered if the advance is 20%.
Latest Answer: @Saras,
And the disadvantages of not registering a sale agreement was specifically highlighted by the apex court in its judgement in the TG Ashok Kumar Vs Govindammal case in 2010.
Where an unethical property developers enter into agreements of sale and take huge advance money, and then sell the property to others, thus, pushing the original agreement holder and the future purchaser into litigation. Registration of agreements of sale will reduce such litigation.
