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Property Related Laws Rajasthan Department of Agriculture and Horticulture Real Estate (Regulation and Development) Act, 2016

Permission to proceed with Registration of Sale Agreement which do not involve transfer of possession of the sold unit executed on a stamp paper of appropriate value between the allottee and the promoter

08-Jun-2023 | No. F.1(146)RJ/RERA/2020/2055

Rajasthan Real Estate Regulatory Authority has issued Order regarding Registration of Agreement for Sale, effective from 8th June 2023

By Virtue of the Order, Rajasthan Real Estate Regulatory Authority has allowed the allottees and promoters to proceed with an agreement for sale executed on a stamp paper of appropriate value between the allottee and the promoter, while its registration can be carried out later, within the stipulated period of four months as per section 23 of the Registration Act, 1908 and where delay in presentation is unavoidable owing to urgent necessity, within a period of further four months on payment of fine as per section 25 of the Registration Act, 1908. Accordingly, the allottees are allowed to deposit instalments and the banks/financiers of the allottees are allowed to sanction housing loan for the sold unit and disburse the due amount of loan on the basis of such executed agreement for sale. However, after registration of such agreement within the time stipulated under the Registration Act, 1908, the registered document shall be deposited with the concerned bank/financial institution.

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