Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. The above definition shows that a purchase agreement contains a promise to transfer the property in question in the future under certain conditions. This agreement itself therefore does not create any rights or interests on the property for the proposed buyer. “Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally. We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. The owners register the property at the value of the sales contract or UDS. It helps save stamp duty and registration fees. In many cases, stamp duty and registration fees charged to the buyer are much higher than the actual costs. This is because the cost of collecting the owners applies to the total value of the consideration, but the real estate register is executed with a UDS value that is normally between 25% and 35% of the total cost. Therefore, balance is an economy for the owner or the icing on the cake. On this point, I refer to the registration to the buyer at the time of possession.
Section 18 of the Act defines the instruments for which registration is optional. Some of these instruments are mentioned under :- a) instruments (with the exception of gift and will instruments) relating to the transfer of a property worth less than one hundred rupees. b) instruments that confirm receipt or payment of consideration. c) renting a property for up to one year. (d) instruments that transfer a decree or court order where the subject of an order-in-council or decision is a property with a value of less than one hundred rupees. e) Will. Section 49 of the Registration Act stipulates that documents that must be registered either in accordance with Section 17 or under the TPA, unless they are registered, must not concern all the real estate in which they contain; (i.e., under section 49 (c) of the Act, if a document that is required to be registered under section 17 of the Registry Act has not been registered, it cannot be presented to the courts as evidence. Section 17 of the Registration Act, 1908 contains different categories of documents for which registration is mandatory. Documents relating to the following real estate transactions must be registered; (a) Certificates of donation b) rental of real estate from one year to the next or for a period of more than one year or booking an annual rent. (c) instruments that pay or extinguish a right or property worth more than one hundred rupees or property. Section 2 (6) of the Registration Act of 1908 includes “land, buildings, estates, rights of way, lights, fisheries or other benefits that arise from the country, or permanently attached to something that is attached to the land, but not standing timber, crops or grasses.” “Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).” A sale immediately indicates the transfer of the property.