What is need of sale deed? is it compulsary?

Sale deed is most important document for property and it is compulsary registration at sub-registrar office and after registration u are owner of this property and if Builder is not agree with u then u take a undertaking from them about registration sale deed. Without sale deed u can not take any loan from any bank and u are not mortagege your property in any bank, so u are not owner of this property as per transfer of property act.  

If  Bullder make a sale deed in your favour and registration this sale deed at sub registrar office and give a possession of this property than u are absolute owner of this property and then after Builder make a service society for maintanance of the building.

Dear BharatKumar

Thanks for your reply.

My builder has not done sale deed in my favour yet but i have already processed my home loan application and loan got disbursed. No bank asked me for SALE DEED.

Now I got the possession of my flat also and builder is not doing SALE DEED. He is giving reasons.

who is responsible for SALE DEED ? Builder has to do it or buyer?