I have booked an under construction property where the plinth is being laid for a 32 storied building.
My specific flat is on the 15th floor and it may take more than a year to materialise. As per the payment schedule I have completed almost 20% of the payment. Now the builder is stating that the registration of the property has to be done now - as it is mandatory under MOFA.
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) If I do a registration of the Sale Agreement at this stage - what would be the charges for the same in Maharashtra ( Mumbai)
3) Is it true that the Builder cannot make any demands for further payment - based on the milestones in the payment schedules - if the property is not registered at this stage. This is the statement from Builder.
Truly,
K Ram
