In addition, a sales agreement does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act). In cases where you have acquired and taken possession of a property under a sale agreement, the title to the land will still remain with the developer, unless a sales record has been subsequently executed and registered under the Indian Registration Act. Thus, it is clear that a security in a property can only be transferred by a deed of sale. In the absence of a deed of sale duly stamped and registered, no right, property or interest for a property, the buyer of the property. The section 49 regime provides for a derogation from the above rule, providing that an unregistered document, which relates to the property and which must otherwise be registered either by the registration law or by the TPA, can be obtained as proof of a contract in an appeal for a specified benefit or as evidence of an incidental transaction. The Supreme Court in KB Saha-Sons (P) Ltd/Development Consultant Ltd [(2008) 8 CSC 564] found that a mandatory document, if not registered, can only be considered in a court action for a given benefit as evidence of a contract performed between two parties and that this unregord document cannot be considered as proof of the content of the contract. Therefore, if a document is inadmissible as proof of non-registration, none of its provisions can be admitted as evidence. In the absence of contrary legislation, an ATS has not been registered in accordance with industry practice with respect to real estate exported both between individuals and between developers and Allottees. As the law did not provide for registration, ATS was also not exposed to the consequences of section 49 of the Registration Act. Therefore, the courts and especially consumers for has, used to make these unregistered ATS effective.
In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property.