5. Certificate of Sale: This scenario only applies to bank auction items. Most of the time, bidders have a lot of confusion about real estate registration in the case of a bank auction process. Let me make it clear that in the event of a bank auction, the Deed Conveyance or Sale Deed are not registered in the sub-register. In this case, the sales certificate issued by the bank is registered in the sub-register. It is signed by the designated banker and authorized at the time of registration. 3. Sales contract and work order: This type of registration is very common and popular in Hyderabad. Builder shares two agreements with the buyer, the sales contract and the Word order. An order is executed to account for the cost of tiles, kitchen plates, windows, doors, flooring, POP, etc.
Normally, in such cases, the buyer does not know the effects of the work order on VAT and the use of ST. The owner does not inform these costs until the time of execution. A high-end calculation indicates that this type of arrangement is only financially advantageous to the owner. From the buyer`s point of view, the exit to stamp duty and the registration of the sales contract and VAT – ST are equal to the work order if the property is registered at the total or gross value. The buyer should insist on full-value real estate records. As we know, the attitude of a builder is as if he were selling the last apartment on this planet, so it is very difficult to convince him. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions. The registration of new housing contracts, which has been mandatory since October, is accelerating.
To date, more than 400 agreements have been registered, bringing revenues of EUR 1 billion to the government. With clear guidelines and rigorous procedures, officials expect this number to increase in the coming days. 4. Bank valuation: In some cases, banks insist that borrowers register the property either at the total value of the property or at a higher value. In the first scenario, namely.dem total value of the real estate, the eligibility of the home loan is determined on the basis of the value of the sales contract instead of the value of the sale contract. This is because many borrowers fraudulently execute sales contracts at a higher value in order to increase the eligibility of home loans. A sales contract is not registered and is most often executed only for Deninlei`s loans. For example, my real estate cost is 50L and based on that my home loan is 80% say 40L. Now I would like to get a 50L home loan. Therefore, I will execute a 62.5L sales contract and I can benefit from a 50L home loan. It can happen to troubled buyers when the seller increases the new demand for diff between the actual value of sales, i.e. 50L and the excessive value, i.e.
62.5L. This 12.5L difference is added only to increase the eligibility of home loans. To avoid such fraud, banks like SBI insist on full-value real estate records. 2. The value of the property is higher than the circle rate: this is the most common scenario. In this case, the buyer has the option to register the real estate at the district rate. Let me make it clear that in this case, it is perfectly legal to circle real estate below the value of real estate. A buyer can execute the transfer of rights to bridge the gap between the cancellation of the right of sale and the value of the sales contract. If it follows this agreement, a buyer can save on stamp duty and registration fees. The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act.