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Owing a home is every Indiaâs dream â a dream that transcends all geographic, demographic and cultural barriers. For many, it is their lifeâs largest and most significant investment. In most cases involving end users, the registration of a property happens naturally as it is an integral part of the purchase process. Because of this, the incidence of such purchasers failing to register their homes is extremely small.

The incidence of failure to register properties is much higher among professional real estate investors, who often buy properties in bulk directly from the developer. Many such investors are unwilling to pay for the registration of such properties. The reasoning is that they will in any case be resold, and that the purchaser will undergo the registration process at that time.

No matter how prevalent this practice is, there is a high legal risk involved. Without registration of a purchased property, the legal rights over it continue to be vested fully with the developer. Needless to say, this is a game with extremely high stakes involved â and therefore a gamble at best.

The Indian real estate market is still at a basic stage of evolution, and the temptation to bypass the law on property transactions continues to be a factor. Thankfully, property laws as well as their enactment are now catching up with the realities of the present day.

 



Registering Mortgaged Property
Definition and Meaning : Area of land below the ground and space in the air and any constructions on it. Real estate means buying or selling of plots and flats. Real estate business consists buyer, seller, brokers, sellers, agents etc., ( Here parties like buyers, sellers, agents may be individuals, firms,

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Process of Property Registration
The registration of a property involves adequate stamping and paying the registration charges for a sales deed and having it legally recorded at the sub-registrarâs office.

If the property is purchased from a developer, registering the property amounts of an act of legal conveyance. If it is the second or third transaction for the

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Property Registration
Registering the documents relating to the transfer, sale, lease or any other form of disposal of a property is compulsory by law under section 17 of the Indian Registration Act, 1908. The registration of an agreement to buy or sell a flat in Maharashtra is compulsory under Section 4 of the Maharashtra Ownership Flats Act, 1963.

Once a

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Flat Ownership Act (Mofa)
I. Introduction
1.1 The Maharashtra Ownership Flats(Regulation of the Promotion, Construction, Sale, Management and Transfer)Act,1963(âthe MOFAâ)has been enacted to regulate the promotion, construction, sale, management and transfer of flats sold on an ownership basis within the State of Maharashtra. The MOFA is an important

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