Registration
Rakesh
(Querist) 19 March 2014
This query is : Resolved
Hi Frineds,
Please let me know if an Agreement to build House with an contractor for 10 months should be registered or Notary would be fine?
Kuummaar AS
(Expert) 19 March 2014
Documents of which registration is compulsory
(1) The following documents shall be registered, if the property to which they relate is situate in a district in which, and if they have been executed on or after the date on which, Act No. XVI of 1864, or the Indian Registration Act, 1866, or the Indian Registration Act, 1871, or the Indian Registration Act, 1877 or this Act came or comes into force, namely:-
(a) instruments of gift of immovable property;
(b) other non-testamentary instruments which purport or operate to create, declare, assign, limit or extinguish, whether in present or in future, any right, title or interest, whether vested or contingent, of the value of one hundred rupees, and upwards, to or in immovable property;
(c) non-testamentary instruments which acknowledge the receipt or payment of any consideration on account of the creation, declaration, assignment, limitation or extinction of any such right, title or interest; and
(d) leases of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent;
Rajendra K Goyal
(Expert) 19 March 2014
Not needed in general, however, if any term of the agreement attract registration, it has to be registered.
Consult a local lawyer and get the agreement checked.
