Time taken to obtain the possession certificate
02-Jan-2023 (In Property Law)
I and Spouse underwent the registration and stamp-duty processing (along with signature and fingerprint) for an apartment in kolkata 115 (ADSR sodepur). The home loan (BoB) has also being sanctioned and disbursed to developer. But I cannot see any entry to the database http://www.wbregistration.gov.in yet. How long does it generally takes to get this database updated. Also, by what timeline I can get expect the possession certificate (the apartment is ready to move-in).
As you have already did registration you can ask for possession certificate and also need to see your agreement is there any time limit is mentioned.And if the builder fails to provide possession within time you can ask for compensation along with interest and file a consumer case in consumer forum.
What happens if flat is not registered?
Ans. The developer or builder will continue to own the property if the flat is not registered. It can cause future legal issues and disputes.
What to do if possession is delayed?
The buyer can file a complaint if the possession is delayed with either the RERA or the Consumer Court. In these circumstances, various RERA authorities rendered decisions in favor of the buyer. In the same way as in the previous case the builders are asking for the reimbursement of the money paid, with interest. 02-Jan-2023
What is the penalty for late registration of property in Maharashtra?
If you miss the 4 month deadline for a delay condonation, you can submit the application again to the subregistrar. As a penalty, you will be charged ten times more than the average cost of re-registration.
What is the difference between possession and registry?
The registration of property establishes ownership and legal validity, while possession confirms the owners or authorized occupants right to use and occupy the property as they see fit and meet their legal obligations.
Sir
My suggestion is apply for the certified copy of the deed you have registered.
If you have registered an agreement for sale then in the deed it is mentioned the time limit.
If you have registered a sale deed then during the registration the developer has given the possession letter to the bank through you. Please check.
Else send a letter to the developer for possession as the sale deed is complete.
Thanks
My suggestion is apply for the certified copy of the deed you have registered.
If you have registered an agreement for sale then in the deed it is mentioned the time limit.
If you have registered a sale deed then during the registration the developer has given the possession letter to the bank through you. Please check.
Else send a letter to the developer for possession as the sale deed is complete.
Thanks
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