I have booked an under construction property where the plinth is being laid for a 14 storied building.
My specific flat is on the 5th floor and it may take more than a year to materialize. As per the payment schedule I have completed almost 24% of the payment. Now the builder is stating that the registration of the property has to be done now.
1) For an under construction property where it is going to take more than 2 years from now for completion, when is the Registration of the Property to be done? Is this at the stage where 20% payment has been done or is it after completion of the project/ building – which is 2 years from now?
2) Can I do complete registration at this stage or just registration of the Sale Agreement?
3) If only registration of the Sale Agreement can be done at this stage – what would be the charges for the same in Maharashtra ( Navi Mumbai)?
4. If at this point of time if I wish to apply for home loan. Can I get home loan on the basis of Sale Agreement registration?