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.
My Queries:
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?
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.
My Queries:
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?