Regarding registration of property before completion
Sumit
(Querist) 05 September 2013
This query is : Resolved
Hi,
I have booked a flat in under construction apartment in Bangalore. The project is approved by SBI, LICHFL etc. I have taken loan from SBI. Almost, 75% of the amount is disbursed to the builder and around 70% of construction is completed. Possession, builder is telling he will give by June,2014.
However, builder is telling us to register the flat now itself as he says that registration charges may increase in near future. He is also telling if you don't want now, you can register it later. My question is " IS it advisable to register the flat before completion" . What are the pros and cons for the same. Is there any risk in registering the flat before completion itself?
Devajyoti Barman
(Expert) 05 September 2013
There is no harm if you register the flat now. Many people even register the sale agreement which is often much before the start of project itself.
Sumit
(Querist) 05 September 2013
Thanks for the reply. we have already done sale and construction agreement from the builder which is with SBI now. So if I understood correctly, there is no issue if we register the flat now itself compared to registration after completion. Builder is still responsible for delivery for flat even after registration of flat is done.
Sumit
(Querist) 05 September 2013
Thanks for the guidance.
