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How long does allottee have to register agreement of sale after book
30-Apr-2025 (In Property Law)
Builder is asking for bank sanction letter to register agreement of sale. How long do I have to go for registration?
I have already paid 10% booking amount and according to cost sheet another 20% is due in 60 days., but builder is asking for more since he says the construction is 70% complete. This is a reputed builder but due to bank process loan sanction letter is being delayed, which is delaying the registration of sale agreement. What advise can you give on how to proceed?
If the cost sheet mentions stage-wise payment and your loan sanction is delayed, inform the builder in writing and request time with proof of bank processing. The builder cannot force early registration unless mutually agreed. Also, mention RERA compliance—registration should ideally happen post-agreement execution. You can offer to sign the agreement subject to bank sanction within a stipulated time. Avoid extra payments beyond the agreed schedule unless revised in writing. Always insist on written communication and receipts for any payment demand.
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Adv. Vaibhavi Muthinty
Dombivli | 100+ Answers
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Well, a Legal Notice can be sent to Bank to issue Sanction Letter of Loan on a faster basis, however, if the Bank is taking time, there may be some legal issues with the Property which the Builder is trying to sell you!
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Adv. Pankaj Bajaj
Pune | 700+ Answers
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