Save Yourself from Fraudulent documents registration!
Registry of document is just confirmation of transaction and payment of stamp duty. It does not verify if the seller is real owner of the property.
Shripal Lodha
2 min read
One of the biggest misunderstandings in the minds of people is that the Registry of Documents means an official ownership record with the government. This is wrong!!
The registry of documents is just a confirmation of transaction and payment of stamp duty. It does not verify if the seller is the real owner of the property.
Current news highlights two types of documents that must be prohibited but are still registered:
Registry of Apartments/flats where the scheme/building/society has more than 8 units or plot area is more than 500 sq. mt and has not been registered with Rera.
Registry of Agriculture plots of less than 11R (Guntha or approx. 11000 sq. ft) are prohibited under Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act 1947.
These two types of properties are illegally registered at Registry offices and the matter has been brought to notice.
Both the restrictions are for the benefit of the Customers/Purchasers
If the property is registered under RERA, The buyer will have multiple rights over the builder/promoter and claim compensation for delay in possession.
For Agriculture plots less than 11R even if registered the purchaser's name can not be included in the 7/12 extract for the land. The 7/12 extract is one of the important proofs of ownership of land.
Documents valid for Registration
If the scheme of the apartment has been completed before 2016 i.e. RERA Act. There is no need for Rera registration even if the scheme has more than 8 units or the plot size is more than 500 sq. mt.
If the plot has approved collector NA ( not proposed). The plot however small can be registered legally and your name can be included in the 7/12 extract.
For more info:
Hello readers, I am Shripal Lodha, a real estate enthusiast from Pune. I deal In land development and Trading and also provide Real estate legal and financial advice. I write about the latest real estate developments and opportunities.
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