Article 13, paragraph 1 of the RERA Act 2016 states that “the project proponent may not accept more than 10% of the cost of the dwelling, land or building, as may be the case in the form of an advance payment or a registration fee of a person without first entering into a written sales agreement with that person and registering the agreement for sale. according to a law in force at the moment.” Key document: “The sale agreement” is considered beneficial to buyers. | Proof of the photo: Bhagya Prakash K That is why we can say that the provisions of the RERA Act 2016 apply as a priority to the 2016 registration order only with regard to the sale agreement. By analyzing the provision, we can understand that the document listed in it is an agreement for sale. Moreover, the fact that the agreement on the sale as such falls within the category of Article 17, paragraph 2, of the Registration Act as a non-binding document. Although the RERA Act of 2016 provides for a non-fruit clause in Section 89 and applies as a result of the same RERA through the Registration Act 1908. On the other hand, it also raises another question as to whether a sale agreement creates a right, title or interest in the property? Suresh Hari, of the Confederation of Real Estate Developers` Associations of India (CREDAI) Karnataka, said a change of government had delayed the implementation of the AoS. “The government had submitted a draft online that we objected to. The agreement should take into account both the concerns of the owners and the buyers. At the end of the day, the law replaces everything. An agreement is a symbolic form of document,” he said.
To understand the conflict between RERA and Registration Act, it is important to understand the difference between the sale agreement and a deed of sale. Sources in the stamps and registration department said: “RERA Karnataka must come with the AoS project and communicate with us. That is not what happened. Currently, all sales contracts are registered” A sale agreement is an instrument by which the seller agrees to transfer the property to a buyer if certain conditions are met, but does not create the buyer`s property on the property. More than a year ago, the Real Estate Regulatory Authority (RERA) Act came into force in the state in 2016, but no property registered since has been subject to the rera rules.