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What is the registration percentage of land in Chennai
21-Oct-2023 (In Property Law)
I & my 2 brothers have each received 1/3 undivided share in our father's land in Chennai through settlement deeds. We are now entering into a construction agreement with a private contractor for building 6 flats on this land (2 flats for each of us).Is this construction agreement to be compulsorily registered for 2%, or is registration not needed in our case?
Construction agreements are to be registered compulsorily in Tamil Nadu. However, in your case it appears that you are going to enter into an agreement which may be called in simple terms as Works contract, since you are the owners of the land. I believe, the plans and approvals are to be provided by you to the builder who is in turn going to construct the flats in conformity with those.
In such a case, it is only a works contract and registration of the same is not compulsory.
In such a case, it is only a works contract and registration of the same is not compulsory.
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